IFAD invests 8 bln USD in rural areas in 2022: report

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IFAD invests 8 bln USD in rural areas in 2022: report

STORY: IFAD invests 8 bln USD in rural areas in 2022: report DATELINE: July 18, 2023 LENGTH: 00:00:53 LOCATION: Rome CATEGORY: SOCIETY/ECONOMY SHOTLIST: 1. various of rural Algeria 2. various of farmers working in Somalia and South Sudan STORYLINE: The International Fund for Agricultural Development (IFAD), a specialized agency of the United Nations (UN), invested a record 7.96 billion U.S. dollars in rural development in developing countries in 2022, the institution said in its annual report published on Monday. The challenges IFAD had to confront last year included stresses caused by the COVID-19 pandemic, the impacts of climate change, and the effects of the conflict between Russia and Ukraine. "2022 was a particularly challenging year for rural people the world over," IFAD President Alvaro Lario wrote in the report's foreword. "Rural communities have acutely felt the effects of this triple crisis on their food systems," which are a critical source of livelihoods and essential nourishment, he said. L

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