ISLAMABAD: Pakistan and the International Fund for Agricultural Development (IFAD) have signed a host country agreement.
The agreement was signed by Foreign Minister Bilawal Bhutto Zardari and IFAD President Alvaro Lario.
Under the agreement, the country office of IFAD will be set up in Islamabad and the existing cooperation between Pakistan and IFAD will be formalized.
It is an important partner for Pakistan in its efforts towards ensuring national food security, climate resilience and rural poverty reduction. IFAD’s current portfolio across Pakistan totals $673 million which is the second highest IFAD undertaking in the world.
Currently, there are five ongoing IFAD projects in Balochistan, Gilgit-Baltistan, Khyber Pakhtunkhwa and south Punjab. Another project is forthcoming in Sindh. These projects are in the areas of nutrition, women empowerment, climate change and youth engagement.