International Fund for Agricultural Development

International Fund for Agricultural Development(IFAD), specialized agency of the United Nations with headquarters in Rome, Italy. IFAD grew out of the 1974 World Food Conference; it was established in 1977 and is comprised of 161 member nations. The IFAD's mandate is to combat hunger and rural poverty in developing countries through agricultural projects that mainly attempt to improve productivity. These varied programs, which introduce new strategies and expand existing techniques, are aimed at such groups as small farmers, landless rural residents, nomadic pastoralists, small-scale fishermen, and poor rural women. As of 2001, IFAD had financed almost 600 projects in 115 countries, committing nearly $7.4 billion in grants and loans.