China, IFAD celebrate 40 years of cooperation

China looks forward to solid partnership with the United Nations' International Fund for Agricultural Development to promote China's rural revitalization, poverty reduction and rural development in the Asia-Pacific region and to contribute to global agricultural development, an official said.

Yu Weiping, China's vice-minister of finance, made the remarks during a keynote speech at an online event on Tuesday held to commemorate the 40 years of cooperation between China and the IFAD.

He said over the past 40 years, China and IFAD have shared the same goals of eliminating rural poverty and promoting agricultural and rural developments and have worked together to innovate and implement best practices. IFAD has collaborated on China's agenda focusing on agriculture, farmers and rural areas, while China has also contributed actively to IFAD's rural development objectives at the global level.

He said China welcomes IFAD's active participation in the Global Development Initiative to make new contributions to China's improved economic and social development, to the implementation of the United Nations 2030 Agenda for Sustainable Development and the building of a community with a shared future for mankind.

Gilbert F. Houngbo, president of IFAD, also spoke at the event. He said cooperation between China and IFAD has achieved remarkable results and effectively supported the poverty elimination and development of China's agriculture and rural areas.

China is now one of the largest contributors to IFAD, a highly active member of the IFAD Executive Board, a staunch supporter of IFAD's institutional reform and a champion of South-South Cooperation, he said, adding IFAD will continue to firmly support China's sustainable development.

Representatives of about 100 international organizations, embassies, government agencies and research institutions in China participated in the event.

The Tuesday event also released a commemorative publication "Forty Years of Working Together to Promote Rural Poverty Reduction and Development", jointly compiled by the Chinese Ministry of Finance and IFAD.

Founded in 1977 with 177 member countries, IFAD is one of three United Nations agencies in the field of food and agriculture and is the world's only international financial institution dedicated to agricultural development, rural transformation and food security. China officially joined IFAD in 1980. To date, IFAD has carried out 33 loan projects in China, covering 22 provinces and regions, benefiting 20 million smallholder farmers.