IFAD President Says Rural Transformation Key to Strengthening Food Security
(MENAFN) Efforts to strengthen food security and economic stability in developing nations are increasingly centered on transforming rural areas. This shift is crucial as more than half of the workforce in many countries is involved in agriculture, according to Alvaro Lario, president of the UN's International Fund for Agricultural Development (IFAD).
"Rural transformation is the cornerstone of economic diversification, social inclusion and climate resilience," Lario stated during a general meeting of the Islamic Development Bank Group (IsDB) in Algiers.
Lario emphasized that poverty remains concentrated in rural regions, making investments and innovative program designs essential to addressing these global issues.
Recent efforts are not only improving food production but also enhancing distribution, marketing, and exports, offering new opportunities for agriculture-dependent economies.
He pointed to the IsDB's $500 million investment in Nigeria's special agro-processing zones, which aims to create jobs in key agricultural sectors and address food insecurity, climate vulnerability, and fragility.
Development finance institutions, including the IsDB, are focusing on youth employment and economic diversification, he noted.
With 80% of poverty concentrated in rural areas, Lario stressed the need for targeted job creation and sustainable development initiatives.
He also highlighted that fragile and conflict-affected countries, which make up a third of some development portfolios, require flexible and responsive strategies.
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