IFAD - FOOD SECURITY LOAN

Promoter – Financial Intermediary

INTERNATIONAL FUND FOR AGRICULTURAL DEVELOPMENT

Location

• Regional - Africa
• Regional - Asia
• Regional - Latin America

Description

The International Fund for Agricultural Development (IFAD) is a specialised agency of the United Nations mandated to enable poor rural women and men to improve their food security and nutrition, raise their incomes and strengthen their resilience. The EIB loan to IFAD will finance investments that boost agricultural production and reinforce the food value chains to generate resilience. The operation aims to accelerate IFAD's support to developing countries.

Objectives

The project will provide funding to IFAD's borrowing countries, that are low and middle income countries. The financed projects will aim inter alia at improving and strengthening food production systems including related policies and institutions.

Sector(s)

• Agriculture, fisheries, forestry - Agriculture, forestry and fishing
• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 500 million

Total cost (Approximate amount)

EUR 2650 million

Environmental aspects

IFAD shall ensure that the final beneficiaries for the sub-projects receiving EIB financing, will comply with IFAD's Social Environmental and Climate Assessment Procedures (2021), IFAD's safeguards and mainstreaming policies, national legislation as well as international treaties and conventions signed and ratified by or otherwise applicable and binding in the country.

Procurement

Works and services for IFAD-financed projects are carried out according to the Borrower's/Recipient's procurement regulations to the extent that they are consistent with IFAD Project Procurement Guidelines that EIB has reviewed and found satisfactory and substantially aligned with the EIB's Guide to Procurement.

Status

Signed - 11/11/2022