AZERBAIJAN-INTERNATIONAL FUND for AGRICULTURAL DEVELOPMENT
Cooperation between the Republic of Azerbaijan and the International Fund for Agricultural Development (IFAD)
Azerbaijan became the member of IFAD in 1997. Since that year, with the participation of IFAD 5 projects have been implemented in Azerbaijan. At present, only the implementation of “Intergrated Rural Development Project” is in progress.
The above-mentioned projects are financed by IFAD together with the Government of Azerbaijan and other international financial institutions through the long term and very low-interest loans.
During 2010-2015 years, the strategy of IFAD in Azerbaijan was to support the Government's efforts on significantly reducing the poverty and improving the living conditions of the rural population. In the framework of the State Program on Poverty Reduction and Sustainable Development adopted by the Government of the Republic of Azerbaijan, it was provided support by IFAD for the development of particularly rural areas and for the agriculture which is the driving force of the rural economy.
The president of IFAD Kanayo Nwanze paid a visit to Azerbaijan in order to participate in a meeting of the Steering Council of the Islamic Development Bank in 2010. During the visit, K.Nwanze was received by the President of the Republic of Azerbaijan Ilham Aliyev.