Photo for illustration: ifad.org

The two-day session with the participation of the IFAD leadership, leaders from a number of countries and international organizations and representatives from 176 IFAD member countries will elect a new president for the IFAD as current President Kanayo F. Nwanze, from Nigeria, will accomplish 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 USD 18.4 billion in 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.

Source: VNA