Vietnam attends annual IFAD Governing Council meeting

14:25 | 15/02/2017 Events

Deputy Minister of Finance Tran Xuan Ha attended the 40th session of the Governing Council of the International Fund for Agricultural Development (IFAD), which opened in Rome, Italy on February 14.

The 40th session of the Governing Council of the International Fund for Agricultural Development (IFAD) - (Source: webapps.ifad.org)

The two-day session with the participation of the IFAD leadership, leaders from a number of countries and international organisations and representatives from 176 IFAD member countries will elect a new president for IFAD as current President Kanayo F. Nwanze, from Nigeria, will finish his second term on March 31.

IFAD, an agency of the United Nations, is headquartered in Rome. The establishment of IFAD was initiated in 1974 and the fund officially ran from November 30, 1977.

Since 1978, IFAD has provided around US$ 18.4 billion in the form of aid and soft loans for many projects in developing countries, helping up to 464 million people escape from poverty.

Vietnam became an IFAD member in 1997.

Theo NDO/VNA