Rome, 8 July 2022 (TDI): The International Fund for Agricultural Development (IFAD) elected a new President, Alvaro Lario. The election took place at IFAD headquarters in Rome.

Lario is therefore IFAD’s 7th President and will assume office on 1 October 2022. Before his appointment, Lario served as IFAD Chief Financial Officer (CFO) and Associate Vice-President for financial operations in 2018.

He pledged to multiply IFAD’s impact on rural poor populations by 2030. Delegations from 177 member countries attended the event. Lario also promised to double IFAD’s impact on rural poor populations by 2030.

“We have the institutions to tackle poverty, we have to know how to reduce inequality, what we need is to mobilize resources and join force”, he said.

Speaking at the election, he also committed to increasing investments in climate resilience and climate-smart agriculture. He also said that climate-smart agriculture and climate adaptation will become very important in breaking the cycle of poverty, inequality, conflict, and forced migration.

“As IFAD President, I will ensure that IFAD connects the huge amount of global savings from impact investors and pension funds to tackle poverty in rural poor communities.”

He also emphasized that it will not be possible to reach the SDGs without harnessing the power of women and the energy of the youth.

Alvaro Lario’s work experience with IFAD

Lario has worked in the private sector, academia, and international institutions for 20 years. He also developed local capital markets and investments in upcoming markets at the International Financial Corporation of the World Bank Group.

As IFAD CFO, he mobilized private sector engagement in fighting against hunger and poverty, and on behalf of the world’s poorest rural populations.

Under Lario, IFAD also became the first specialized agency apart from the World Bank Group, to enter the capital markets. IFAD was able to acquire a credit rating.

The credit rating helped the Fund to expand resource mobilization efforts to the private sector. He also helped IFAD become a leader in global security as it helps build resilience for small-scale farmers.

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