Acting Prime Minister, Professor Biman Prasad last night officiated at the launch of the International Fund for Agricultural Development (IFAD) Pacific Office in Fiji.
In his opening remarks, Prof Prasad said for more than four decades, IFAD has been financing initiatives in the Pacific Small Islands Developing States (SIDS), assisting communities in promoting resilience and improving livelihoods and food security.
Prof Prasad said IFAD’s total investment in the Pacific amounts to US$417.7 million, of which IFAD’s programme of Loans and Grants is of US$130.5 million, and domestic and international co-financing leveraged equals US$287.2 million, 33 per cent of which is domestically financed.
“IFAD’s engagement in the Pacific has expanded with its Programme of Loans and Grants and grew from US$24 million in IFAD 8 (2010-2012) to US$40 million in IFAD 12 (2022-2024).”
He said prior to the launch, he met with the IFAD Associate Vice-President, Donal Brown and IFAD executive team members.
The discussions were centred around Coalition Government’s priority areas of improvement, development of agricultural sector and the rural economy.
Also present at the event were Assistant Minister for Finance Esrom Immanuel, Assistant Minister in the Office of the Prime Minister, Sakiusa Tubuna and the Assistant Minister for Education, Iliesa Vanawalu.