The International Fund for Agricultural Development (IFAD) is the first UN agency to receive a credit rating. The international rating agency Fitch Ratings has rated IFAD's creditworthiness as stable (AA +). Such an assessment means increased investment that will allow the Fund to expand its economic development projects in rural areas around the world, according to the UN news center.
The Foundation plays a key role in the fight against global hunger. The UN considers the assignment of a credit rating to the Fund an important step towards the implementation of the Sustainable Development Goals.
The head of IFAD, Gilbert Hongbo, is convinced that a new era has begun in the activities of the Foundation. “With a good rating, more resources are available to us that will allow us to expand projects and programs on the ground, to help more people, pull them out of poverty,” he said.
One of the goals of this organization is to increase the incomes of 264 million people in rural areas of the world by 20% by 2030. Against the backdrop of the pandemic and the related crisis, the issues of economic development and the fight against hunger are gaining special relevance. This year alone, the number of hungry people in the world is expected to increase by 132 million, and the level of poverty will rise for the first time in ten years.