IFAD President Alvaro Lario Strengthens Partnership with China During Beijing Visit

Lario emphasized the significance of IFAD's collaboration with China, stating, “Our partnership with China is a cornerstone of our work in Asia and indeed around the world.”

President Alvaro Lario of the International Fund for Agricultural Development (IFAD) recently completed his second official visit to Beijing, where he enhanced the organization's robust and evolving partnership with the People's Republic of China. Over two days, Lario engaged with senior government officials, including Vice Premier Liu Guozhong, and various development partners to expand cooperation on rural revitalization and green development.

Lario emphasized the significance of IFAD's collaboration with China, stating, “Our partnership with China is a cornerstone of our work in Asia and indeed around the world.” He expressed enthusiasm for continuing support of China’s rural revitalization agenda while leveraging its successful experiences in poverty reduction and rural development to assist other countries in the Global South.

Expanding South-South Cooperation

IFAD has actively worked with China to identify, promote, validate, and scale agricultural innovations through its South-South and Triangular Cooperation (SSTC) facility, established in 2018. As of early 2024, this facility has supported projects aimed at poverty reduction, combating malnutrition, and enhancing rural youth employment across 38 countries. It has also facilitated approximately 120 business-to-business linkages, benefiting around 30,000 small-scale farmers.

During his visit, Lario also met with Minister of Finance Lan Fo'an, acknowledging China's significant support for IFAD's Thirteenth Replenishment, contributing $87 million, along with an additional $10 million for the SSTC facility. This reflects China’s strong confidence in IFAD’s mission and programs.

Strengthening Partnerships and Investments

In addition to discussions with government officials, Lario met with notable leaders including Jin Liqun, President of the Asian Infrastructure Investment Bank (AIIB), and Luo Zhaohui, Chairman of the China International Development Cooperation Agency (CIDCA). These meetings focused on strengthening existing partnerships and exploring new joint investments in rural development initiatives aimed at fostering thriving, productive, and resilient rural communities.

A Longstanding Relationship

Since its inception in 1981, when IFAD became the first international financial institution to invest in China, the organization has financed 35 projects with a total investment of $3.45 billion, including $1.3 billion from IFAD’s own resources. These projects have positively impacted approximately 4.6 million households, showcasing the lasting benefits of the collaboration between IFAD and China.

 IFAD’s commitment to enhancing its partnership with China underscores the organization's broader goal of combating rural poverty and promoting sustainable agricultural practices globally. As both parties continue to explore new avenues for collaboration, the focus on rural revitalization and green development promises to yield significant benefits for small-scale farmers and rural communities in China and beyond.