The International Fund for Agricultural Development (IFAD) and Agence Française de Développement (AFD) signed a new Co-Financing Framework Agreement on April 16, 2026, in Washington D.C., according to a press release issued by IFAD. IFAD President Alvaro Lario and AFD Chief Executive Officer Rémy Rioux signed the agreement at the World Bank Group-IMF Spring Meetings. The framework reaffirms both organizations’ longstanding strategic collaboration and aims to enable more coordinated, high-impact investments in small-scale farmers, rural populations, and food value chains, including Small-and Medium-Size Enterprises (SMEs).
IFAD and AFD share a long-standing partnership focused on building more inclusive, resilient, and sustainable rural economies, with particular attention to small-scale farmers at the first mile of food systems, especially in Africa, the Middle East, and fragile contexts. Since IFAD’s creation, AFD has provided two sovereign loans totaling €500 million and a €50 million concessional partner loan to IFAD. AFD has also provided US$136 million in loans to IFAD borrowing member states to co-finance IFAD investments and US$26 million in supplementary funding for IFAD projects. This financing has supported activities in Angola, Cuba, the Democratic Republic of Congo, The Gambia, and Nigeria.
The new agreement covers co-financing of investments, policy dialogue, and joint knowledge initiatives, with emphasis on climate resilience, food security, youth and women’s empowerment, and private sector engagement. Both institutions committed to maximizing linkages across their portfolios through integrated technical assistance, joint supervision missions, and streamlined use of procurement, fiduciary, environmental, and social standards. Programs under the framework will offer services such as capacity development, access to markets, and targeted advisory support on value-chain development. The agreement draws on the respective strengths of each organization to deliver a broader, more coherent portfolio of services.
Alvaro Lario stated: “The IFAD-AFD partnership reflects our shared ambition to scale impact in rural development, resilient food systems and food security – advancing prosperity for all. With a unified framework, we can invest more effectively and direct financing to the rural communities that need it most. I thank AFD for its continued trust and decades-long partnership.”
Rémy Rioux added that both institutions are working to provide more coordinated financing for climate resilient agriculture through the Agri-PDB Platform, which he described as representing the largest coalition of Finance in Common (FiCS) with 142 PDBs from 96 countries. He called the agreement “a significant step towards supporting a sustainable and inclusive rural transformation in Africa and vulnerable contexts.”
The Co-Financing Framework Agreement builds on decades of joint work that has improved the economic performance of small-scale farmers and protected biodiversity, according to both parties. Together, IFAD and AFD have directed financing toward strengthening agricultural and weather risk management, building capacities of African farmers’ organizations, and enabling effective investment of remittances in rural areas. The agreement positions both institutions to deepen collaboration across a complex global environment. It marks a concrete advancement in their shared vision for rural transformation and food security.
