Kenya has pledged Sh390 million to the International Fund for Agricultural Development (IFAD) for its next three-year funding cycle. This represents a 50 per cent increase from the Sh259.4 million contributed in the previous cycle. President William Ruto announced the pledge during high-level meetings of the 81st United Nations General Assembly in New York. The increased funding aims to support small-scale farmers and rural communities, particularly young farmers.
The IFAD fund helps poor people in rural areas access money, knowledge, equipment, and market opportunities to improve farming and earn a better living. In Kenya, IFAD has supported farmers in areas including dairy, livestock, cereals, horticulture, and fish farming. It has also supported rural financial services. One Kenyan project, the Kenya Livestock Commercialisation Project, has IFAD financing of about Sh14.20 billion to help small-scale farmers increase production and become more resilient to economic and climate shocks.
President Ruto stated that Kenya's 50 per cent increase in its pledge to IFAD is an investment in rural communities, especially young farmers who represent one of Africa's greatest opportunities for growth and transformation. He called on other donors and development partners to match Kenya's momentum by increasing their contributions to IFAD14 to drive rural prosperity and strengthen food security in Africa.
IFAD President Alvaro Lario said African countries understand that investment in rural areas is crucial for food production, jobs, and economic growth. He noted that IFAD is uniquely positioned to channel and catalyse investment to rural areas where the greatest opportunities exist to create jobs and accelerate inclusive growth. Nearly 60 per cent of IFAD's portfolio is invested in Africa.
Other African leaders also called for greater investment in agriculture during the UN General Assembly meetings. Ethiopian President Taye Atske Selassie stated that his country's commitment to IFAD14 reflects the link between food security, economic growth, and young people. Sierra Leone President Julius Maada Bio emphasised that agriculture is central to food security and livelihoods.
The increased African contributions come as IFAD reports measurable improvements among people reached by its projects. An assessment of projects under IFAD's previous replenishment cycle found that participating rural people's incomes increased by an average of 34 per cent, while their productive capacity rose by 35 per cent and access to markets by 34 per cent.
Kenya's Sh390 million pledge will go into the pool from which IFAD draws to support projects across the world. IFAD's financial model can turn every $1 of core contributions into about $6 of investment in rural economies. This means Kenya's contribution could help mobilise substantially more money for projects benefiting rural communities.
Key points
- Kenya pledges Sh390 million to IFAD to support small-scale farmers and rural communities.
- IFAD reports measurable improvements among people reached by its projects, including increased incomes and productive capacity.
- African leaders call for greater investment in agriculture to drive rural prosperity and strengthen food security.
