Press Release

OFID Director-General Addresses IFAD Governing Council
Al-Herbish rallies support for rural development

05/2007 February 14, 2007 Rome, Italy
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If the core objectives of the Millennium Development Goals (MDGs) are to be met, greater attention must be paid to addressing the needs of the rural poor, according to Suleiman J. Al-Herbish, Director-General of the OPEC Fund for International Development (OFID).

Mr. Al-Herbish made his remarks at the inaugural plenary session of the Governing Council of the International Fund for Agricultural Development (IFAD) in Rome today. Afterwards, the Director-General participated in a press conference with HE Prime Minister Diogo of Mozambique and GCC Secretary-General, HE Mr. Al-Attiyah.

“The link between rural poverty and attainment of the MDGs is self evident,” said Mr. Al-Herbish in his statement. “In developing regions where investment in agriculture has increased, progress is being made toward reducing poverty and hunger. Where such investment has lagged behind, so too has progress,” he noted.

Appealing to G-7 nations to push the MDGs higher up their agenda, Al-Herbish said that realization of the goals was “just as important as issues like global warming, energy security and debt relief.”

The Director-General highlighted aid effectiveness, globalization and climate change as three of the greatest challenges confronting developing countries and the donor community in their joint bid to spur socio-economic development in the rural areas.

Commenting on the trend of urban migration, Al-Herbish pointed to empowerment as the most critical component in stemming the flow of people from the countryside to the cities. “We need to focus on providing the tools and creating an environment that will allow the rural poor not only to maintain their way of life, but to prosper,” he said, adding that the foundations for this lay in participation, cooperation and partnership.

OFID is a committed advocate of rural development and has channelled the bulk of its aid into rural areas. As well as direct support to agriculture, it has invested heavily in rural infrastructure and in initiatives that promote private enterprise development on- and off-farm. The financing has been given in the form of both soft loans and grants.

IFAD is the specialized agency of the United Nations dedicated to eradicating rural poverty in developing countries, and is a key partner of OFID. Globally, the two institutions have financed over 60 projects together.

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