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IFAD / CREDIT RATING
STORY: IFAD / CREDIT RATING
TRT: 3:52
SOURCE: IFAD
RESTRICTIONS: NONE
LANGUAGE: ENGLISH /NATS
DATELINE: 2 OCTOBER 2020, ROME, ITALY /FILE
RECENT
1. Wide shot, exterior IFAD building
2. Wide shot, countries’ flags
3. Close up, UN flag outside building
4. Pan left, IFAD conference
5. Med shot, delegates attending conference
6. Focus shift, IFAD President Houngbo addressing conference
2 OCTOBER 2020, ROME, ITALY
7. SOUNDBITE (English) Gilbert F. Houngbo, President, IFAD:
“It is a new era and we need to keep pushing the boundaries and that’s what we are trying to do.”
RECENT
8. Wide shot, IFAD conference
2 OCTOBER 2020, ROME, ITALY
9. SOUNDBITE (English) Gilbert F. Houngbo, IFAD President:
“By having a good credit rating, you can access different resources and therefore you can increase your project and your programme in the field and you can increase the people that you are assisting in pulling them out of poverty, out of hunger.”
FILE – DATE UNKNOWN, IVORY COAST
10. Various shots women harvesting rice
2 OCTOBER 2020, ROME, ITALY
11. SOUNDBITE (English) Alvaro Lario, Chief Financial Officer, IFAD:
“So, mobilizing more funds with this credit rating will enable IFAD to really achieve one of its goals by 2030 which is to raise the income by at least 20 percent of 264 million rural women and men.”
FILE – DATE UNKNOWN, INDIA
12. Wide shot, woman and child in field
13. Med shot, child eating
2 OCTOBER 2020, ROME, ITALY
14. SOUNDBITE (English) Alvaro Lario, Chief Financial Officer, IFAD:
“What is more important to us is that it will enable IFAD to mobilize even more funds from various potential investors at a very favourable cost and this at the end of the day results in more impact to our rural poor beneficiaries, which is what we really care about.”
FILE – DATE UNKNOWN, AFGHANISTAN
15. Various shots, Afghani herders wearing masks
16. Med shot child in front of tent
17. Various shots, IFAD-supported vet vaccinating cattle
2 OCTOBER 2020, ROME, ITALY
18. SOUNDBITE (English) Gilbert F. Houngbo, President, IFAD:
“It’s very clear to me that the expectation from our Member States, our borrowing members, are high. And the demand is growing. COVID just proved it again that the demand on our service is growing. Yet we know that there are so many competing demands on ODA classic resources. So, everybody has to look at ways to create those conducive environments to increase our resource base, particularly in our case given our objective to double our impact by 2030.”
FILE – DATE UNKNOWN, NIGERIA
19. Various shots, woman rice producer washing hands in Nigeria
20. Various shots, rice producers processing rice, wearing masks in Nigeria
FILE – DATE UNKNOWN, VIETNAM
21. Various shots, rice farmers planting
FILE – DATE UNKNOWN, COLOMBIA
22. Various shots, farmers hoeing
FILE – DATE UNKNOWN, NIGERIA
23. Drone shots, rice fields Nigeria
The International Fund for Agricultural Development (IFAD) became the first fund in the United Nations system to receive a public credit rating. The AA+ (stable) rating was announced on Friday (2 Oct)by Fitch Ratings.
This sets the stage for increased investments in food security, employment, and rural economic growth, and is an important step towards the achievement of the Sustainable Development Goals (SDGs). As the only global development organization exclusively dedicated to transforming agriculture, rural economies and food systems, IFAD plays a central role in the fight against extreme poverty and hunger.
Gilbert F. Houngbo, IFAD President said “it is a new era and we need to keep pushing the boundaries and that’s what we are trying to do. By having a good credit rating, you can access different resources and increase your project and your programme in the field and you can increase the people that you are assisting in pulling them out of poverty, out of hunger.”
This credit rating adds momentum to international efforts to catalyze additional financing to achieve the SDGs by 2030 and ensure no one is left behind.
Alvaro Lario, IFAD’s Chief Financial Officer said “mobilizing more funds with this credit rating will enable IFAD to really achieve one of its goals by 2030 which is to raise the income by at least 20 percent of 264 million rural women and men.”
With Official Development Assistance (ODA) under pressure in recent years, IFAD has been exploring new funding models to help it double its impact on reducing poverty and hunger by 2030, and meet the changing needs of borrowing countries.
Lario said “what is more important to us is that it will enable IFAD to mobilize even more funds from various potential investors at a very favourable cost and this at the end of the day results in more impact to our rural poor beneficiaries, which is what we really care about.”
“It’s very clear to me that the expectation from our Member States, our borrowing members, are high. And the demand is growing. COVID just proved it again that the demand on our service is growing,”IFAD’s President Houngbo said. “Yet we know that there are so many competing demands on ODA classic resources. So, everybody has to look at ways to create those conducive environments to increase our resource base, particularly in our case given our objective to double our impact by 2030.”
Due to the COVID-19 pandemic, there could be up to 132 million more hungry people in 2020 alone, and extreme poverty looks set to increase for the first time in decades. With only 10 years left to achieve the SDGs, there is an urgent need to increase investment in the rural areas where most of the world’s extremely poor and hungry people live, and where IFAD focuses its activities.
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