Grants and Contributions:

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Title:

Additional Support to IFAD Climate Finance Loan 2019-2021

Agreement Number:

7429367 P006240002

Agreement Value:

$190,000,000.00

Agreement Date:

Mar 31, 2021 - Mar 31, 2021

Description:

This project represents an additional loan of $190 million to the International Fund for Agricultural Development (IFAD) for climate-smart agriculture in developing countries. This contribution supports IFAD’s full environmental and climate mainstreaming agenda whose overarching goal is to strengthen the environmental sustainability and climate resilience of rural people to overcome poverty and achieve food security. The purposes of this loan are: (1) to support IFAD’s provision of loans to eligible Member States in line with IFAD’s commitment to ensure that its Programme of Loans and Grants is climate-focused; and (2) to support gender mainstreaming and gender-transformative projects. Project activities include: (1) expanding IFAD’s support to smallholder farmers, particularly women; and (2) promoting farming practices adapted to climate change and adoption of technologies and practices which help reduce the carbon footprint from agricultural systems. This project enables poor populations to adapt to the effects of climate change and reduce greenhouse gas emissions.

Organization:

Global Affairs Canada

Expected Results:

The expected outcomes for this project include: (1) increased resilience of 24 million people; (2) reduction by sequestration and/or avoidance of greenhouse gas emission; (3) increased adoption of gender-responsive environmentally sustainable and adaptive technologies by vulnerable groups and individuals; (4) increased poor rural people’s access to natural resources; and (5) increased capacity of people, particularly women, to use and control environmentally sustainable technologies, infrastructure and practices.

Location:

Rome, IT

Reference Number:

064-2020-2021-Q4-00435

Agreement Type:

Contribution

Report Type:

Grants and Contributions

Recipient Type:

Not-for-profit organization or charity

Recipient's Legal Name:

IFAD - International Fund for Agricultural Development

Program:

International Development Assistance Program

Program Purpose:

The main purpose on the International Development Assistance Program is to reduce poverty for those living in countries where Global Affairs Canada engages in international development.