MoF strengthens the strategic partnership between the UAE and IFAD

HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs met, yesterday, with HE Kanayo Nwanze, President of the International Fund for Agriculture and Development (IFAD), in Dubai. The meeting aimed to discuss ways of developing the strategic partnership between the UAE and IFAD, through methods of cooperation between the two parties to support agricultural development, regional self-sufficiency and sustainability in food - in addition to training national specialist employees through IFAD’s loan programmes.

During the meeting, HE Obaid Humaid Al Tayer stressed the Ministry of Finance’s (MoF) efforts to support global development by strengthening its relations with international organisations. HE also emphasised the Ministry’s commitment to support the UAE’s private and public sectors to enhance their contributions in this respective field. HE added that the Ministry is committed to achieving the UAE Vision 2021 on building national capacity, and providing necessary skills to enhance the UAE’s status on a regional and global level.

HE Younis Haji Al Khoori, Undersecretary of MoF and Mohamed Beavogui, Director of Partnership and Resource Mobilization at IFAD, signed a joint statement with IFAD to establish strategic partnerships between the entities. The joint statement indicates the mutual agreement between the two parties to adopt special measures in the secondment and training programmes for federal government employees with suitable skills to improve projects within IFAD, refine supervisory skills as well as take advantage of practical situations.

HE Younis Haji Al Khoori highlighted that this joint statement aims to consolidate the bonds of cooperation between the UAE and IFAD, in terms of supporting the national specialist employees to benefit from expertise of international development institutions.

The UAE is one of the founding members of IFAD and has joined the Fund in 1979 under a Federal Decree No.9 of 1979. The UAE has contributed a total of 54.2 million US dollars to the Fund and has helped in funding all renovations of the Fund’s resources; including the ninth replenishment of IFAD’s resources 203-2015 as per the UAE Cabinet’s decision in 2012.