Islamabad, October 12, 2014 (PPI-OT): President International Fund for Agricultural Development (IFAD), Mr. Kanayo Nwanze called on the Federal Minister for Finance Senator Mohammad Ishaq Dar in Washington. The Finance Minister said that The Government values IFAD’s contribution in Pakistan’s Agriculture sector which has a major share in our GDP.
Mr. Kanayo briefed that Pakistan is the fourth largest recipient of IFAD resources in Asia and the Pacific region and that Pakistan is also a contributor to IFAD’s resources. Mr. Kayano explained that in comparison to other financial institutions, IFAD has a sense of ownership by virtue of working at the grassroots level. IFAD, he said, has created a new position in Pakistan, in order to diversify its programs in particular focussing on youth employment and job creation in rural areas of Pakistan.
Senator Dar commended IFAD’s initiation of study on Diaspora remittances and to identify steps to encourage investment of remittances in the rural areas, especially in agriculture. The Finance Minister flagged the need for additional allocation by the Fund, targeting rural areas of Pakistan.
He assured that the issues of IFAD would be taken up with the Provincial governments on his return to Pakistan. Mr. Kanayo informed the Finance Minister that they have recently mobilized their resources and by the end of 2015, significant financial resources would be available for prospective programs in Pakistan.
The Finance Minister acknowledged the contribution of IFAD in the development of Pakistan’s agriculture sector and offered to extend every possible assistance for smooth implementation of its projects.
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