Major international funding agencies strengthen cooperation to benefit small farmers

The Organisation of Petroleum Exporting Countries’ Fund for International Development (OPEC Fund) has signed a cooperation agreement with the UN International Fund for Agricultural Development (IFAD). This will expand the existing partnership between the two agencies and strengthen the joint financing of food security and climate resilience projects, to support smallholder farmers around the world. Smallholder farmers are responsible for the production of 33% of the world’s food. “Food security and climate action are cross-cutting strategic themes for the OPEC Fund,” highlighted Fund president Abdulhamid Alkhalifa. “We are committed to supporting a sustainable and just energy transition while ensuring vital food supplies worldwide. We will boost our long-standing partnership with IFAD by working faster and smarter to deliver our support where it is needed most.”