One of the world's newest international agencies, the International Fund for Agricultural Development (IFAD) has heard a call for a substantial increase of funds to finance projects in developing countries next year.
SV INTERIOR: Conference hall, Italian President Sandro Pertini arrives and takes seat
CU: IFAD President Abdelmuhsin Al Sudeary speaks in Arabic.
SV ZOOM OUT: Empty Afghanistan seat with Algeria and Zambia delegates either side
SV: Iran delegation applaud
SV: President Leopold Sedar Senghor of Senegal applauded as he walks to rostrum.
SV: Ghana delegation applauding
CU AND SV: President Senghor speaking in French (2 shots)
IFAD is jointly financed by western and oil-producing nations with the oil producers having a pivotal and decisive role. IFAD began on December 13, 1977. Of the 33 loans allocated so far, 13 have been to Asia, 12 to African states, and 8 to Latin america. The Fund's programme of work for 1980, still to be approved at the date of writing, is 400-million dollars to finance some 30 new projects.
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Background: One of the world's newest international agencies, the International Fund for Agricultural Development (IFAD) has heard a call for a substantial increase of funds to finance projects in developing countries next year. The agency's governing council began it third meeting in Rome on Tuesday (15 January).
SYNOPSIS: President Sandro Pertini of Italy -- the host nation -- has as his guests, delegations or lone delegates from almost every country with United Nations membership and a few without.
Under the Presidency of Abdelmuhsin Al-Sudeary of Saudi Arabia, the Agency has been in operation for little more than two years, yet has managed in that time to allocate loans totalling 500-million United States dollars. They money is urgently needed by developing countries to improve food production. But apparently, that's not enough.
Afghanistan, which is one of the 96 member states, was one of the few that didn't arrive in Rome.
Iran is one of the largest contributors to IFAD, with a donation of 124-million dollars, exceeded only by the 200-million from the United States. But most of the members, including the African republic of Senegal, represented by President Leopold Sedar Senghor, are recipients of low interest loans. And it was President Senghor who led the call to top up the funds reserves now less than half the one-thousand million dollars with which the agency began its work.