ISLAMABAD, JUL 25 /DNA/ – Pakistan and International Fund for Agricultural Development (IFAD) have signed a “Host Country Agreement”. The Agreement was signed by Foreign Minister of Pakistan Bilawal Bhutto Zardari and IFAD President Alvaro Lario.

Under the Host Country Agreement, the Country Office of IFAD will be set up in Islamabad. The agreement will formalize the already existing substantial cooperation between Pakistan and IFAD. IFAD’s current portfolio across Pakistan totals US$ 673 mn, which is the second highest IFAD undertaking in the world.

There are 5 ongoing IFAD projects in Pakistan in Balochistan, Gilgit-Baltistan, Khyber Pakhtunkhwa and South Punjab, with a sixth project forthcoming in Sindh. IFAD projects are in the areas of nutrition, women empowerment, climate change and youth engagement.

IFAD is an important partner for Pakistan in its efforts towards ensuring national food security, climate resilience and rural poverty reduction.