IFAD lauds Kuwait's role to boost global food security

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Monday 02 Mar 2015 - 11:08 Makkah mean time-11-5-1436 IFAD's President Kanayo F. Nwanze (KUNA/Image) Rome (IINA) – The International Fund for Agricultural Development (IFAD) has highly praised the significant role played by Kuwait to enhance world food security, KUNA reported. “Kuwait's role is pivotal in backing development and agriculture projects that aim to eradicate poverty and famine and to empower the marginalized communities in the world,” IFAD's President Kanayo F. Nwanze said Sunday in an interview with KUNA, on the eve of his planned visit to the UAE to partake in the Gulf Forum to Enhance Food Security and Support Small and Medium Scale Farmers. Nwanze pointed out that Kuwait has greatly contributed to the IFAD's investment projects in developing countries to improve the condition of poverty-stricken communities and transform rural areas. He also described the cooperation between the IFAD and Kuwait Fund for Arab Economic Development (KFAED) as extremely good. He spoke highly of Kuwaiti generous initiatives to help African countries. It is worth recalling that in 2013, Kuwaiti Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah announced that the KFAED would offer $ 1 billion in soft loan to finance development projects in African countries. Nwanze urged the KFAED to increase its investments in disasters-hit countries such as Yemen, Somalia and Mauritania. The IFAD, a specialized Rome-based UN agency, was established as an international financial institution in 1977 as one of the major outcome of the 1974 World Food Conference. It invests in rural people, empowering them to reduce poverty, increase food security, improve nutrition and strengthen resilience. Since its foundation, it has provided over $ 16.3 billion in grants and low-interest loans to projects that have reached about 438 million people across the world. AB/IINA