Australia is proposing to rejoin the United Nation's International Fund for Agricultural Development (IFAD) after a seven year hiatus.
IFAD works with governments to empower the rural poor to overcome poverty through low interest loans and is currently assisting more than 36 million beneficiaries across the developing world.
International governments increasingly regard the fund as a valuable partner thanks to its work with smallholder producers who are disproportionally represented among the world's rural poor.
Review and reform
Australia was an original founding member of IFAD in 1977, but withdrew its membership in 2004 as the aid program's priorities were not aligned with the organisation's geographic and sectoral focus at the time. Concerns had also been raised regarding the IFAD's internal governance.
In 2011, AusAID conducted a comprehensive review of IFAD, which found that since Australia's decision to withdraw, it had implemented significant reforms and is now considered by both donors and developing countries to be an increasingly effective partner.
Food security focus
Membership of IFAD would complement and strengthen Australia's existing support for food security, rural development and poverty reduction.
IFAD focuses on poverty issues in many lower and middle income countries where Australia has an interest but is not currently engaged. Renewing support for IFAD would expand Australia's support for these countries while benefitting from the organisation's local and regional knowledge.
Need for Australian expertise
Current IFAD members are eager to access Australia's unique technical expertise in tropical and dryland farming, fisheries, biosecurity and quarantine.
Australia's decision to re-join IFAD would open opportunities for Australian firms and individuals to be engaged and/or employed on IFAD projects.
The government's final decision will be made after a national impact analysis and consideration by the Joint Standing Committee on Treaties.
More information
Proposal for Australia to re-join the International Fund for Agricultural Development
United Nations' International Fund for Agricultural Development [external website]