RIYADH: A Saudi delegation has met with the UN’s International Fund for Agricultural Development (IFAD) in an effort to boost ties and explore how it can support the Kingdom’s economic diversification plans. Among the topics discussed were Reimbursable Technical Assistance (RTA) agreements aimed at supporting smallholder agricultural development.
Gilbert F. Houngbo, president of IFAD, thanked the Kingdom for its continuous support since the fund’s establishment. He said that the commitment of member states to increasing investments in rural transformation was crucial to helping the world’s poorest citizens escape poverty and food insecurity. Ahmed bin Saleh bin Ayada Al-Khomshi, undersecretary for agriculture in the Ministry of Environment, Water and Agriculture, reiterated that Saudi Arabia was keen to continue its support for the fund so that it can respond to the most pressing rural development issues. Saudi Arabia played a major role in the establishment of IFAD in 1977 and has been a key supporter of the fund for the past 40 years. Its total contributions have exceeded $486 million.
