The International Fund for Agricultural Development (IFAD, QSRJ) opened a representative office in Uzbekistan on June 15, the IFAD Press Service reported. The opening ceremony was attended by IFAD President Alvaro Lario and Uzbek Minister of Agriculture Ibrahim Abdurakhmanov.

IFAD is an international financial institution and a specialized agency of the United Nations, established in 1978. Headquartered in Rome, the Fund invests in rural communities, providing opportunities to reduce poverty, increase food security, improve nutrition and build resilience.

“The opening of RFRC’s new representative office in Tashkent reflects our commitment to supporting sustainable development processes in Uzbekistan and the region. By working together with the government and the private sector, we can encourage large-scale investments in climate change adaptation and rural prosperity,” said Alvaro Larrio.

Uzbekistan has been working with the Fund since it joined in 2011. The establishment of a representative office in the country would allow for more effective coverage and resolution of the needs and issues of the agricultural sector, the report said.

Over the past decade, IFAD’s portfolio of projects in the region has grown significantly, with total investments reaching US$435.3 million and benefiting more than 550,000 rural residents.

The current country program of IFAD Uzbekistan Strategic Opportunities Program is designed for 2023-2027. Within the framework of the program, he intends to implement a work program worth $250 million, which includes domestic and international co-financing with the Uzbek government.