08:55 Harriett Baldwin (Conservative)

IFAD has committed to stepping up its work for youth in this 11th replenishment. Today, the world’s population includes the largest ever generation of young people—1.8 billion—and that population growth is set to continue, particularly in Africa. Most of those young people live in the rural areas of low and middle-income countries. They are more likely to be unemployed and to leave their home in search of work, first to cities and then, if they cannot find decent jobs there, to travel across borders to neighbouring countries and, indeed, beyond. Investing in IFAD helps to build rural economies and create economic opportunities, also for young people. With a growing population, the world needs to produce more food—enough for more than 9 billion people by 2050. IFAD supports rural communities to build their resilience to the effects of climate change and to increase production.

Our commitment to UK aid and our strong partnership with IFAD, together with other member states, addresses those global challenges and is an important part of Britain’s leadership and global offer. The United Kingdom continues to drive reform, to strengthen the international system to deliver better results. Together with other member states, the UK has succeeded in agreeing reforms with IFAD, including to increase the proportion of core funding that is allocated to those poorest countries that are least able to self-finance to 90%; to report against an ambitious results management framework that disaggregates by gender and age, ensuring a focus on women, girls and young people; to develop a transition framework that sets out how IFAD’s lending terms will increase as its borrowers’ incomes increase; to address the needs of people with disabilities, in line with the sustainable development goal agenda of leaving no one behind; and to strengthen work on nutrition and climate change in all IFAD-supported projects. It will also mobilise additional financial resources, including through domestic co-financing, sovereign borrowing, and concessional partner loans, increasing the level of development assistance for every pound of UK investment.

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