The 49th session of the Governing Council of the International Fund for Agricultural Development (IFAD) was held from February 10 to 11 in Rome, Italy. Liao Min, IFAD Governor for China and Vice Minister of Finance, led the Chinese delegation attending the session.

Liao said the overarching theme of the Governing Council — From Farm to Market: Investing with Young Entrepreneurs — was of great significance. Young people represent a crucial force in driving the transformation of agri-food systems. Therefore, IFAD should remain committed to investing in people and enable youth to play a leading role in the development of digital agriculture; deepen global partnerships to build a comprehensive network of funding, knowledge, and partnerships to support rural youth entrepreneurship; and expand South-South and triangular cooperation to help the rural youth across regions to share development outcomes, Liao said.

He delivered a plenary statement on invitation, highlighting China’s achievements and experience in poverty alleviation in agriculture and rural areas since the launch of its reform and opening-up, as well as its implementation of the “Two Mountains Theory”. He elaborated on these efforts from the perspectives of rural governance, eco-environment development, and unleashing economic growth potential, with a view to providing the most relevant and latest references for other developing countries in advancing rural economic and social development. Liao reaffirmed China’s support for IFAD in growing bigger and stronger and mobilizing more resources to support poverty reduction and development in the Global South, and underscored the country’s firm commitment to multilateralism.

On the sidelines of the session, Liao met separately with IFAD President Alvaro Lario, Director-General of the Food and Agriculture Organization of the United Nations Qu Dongyu, Vice Minister of Finance of Brazil Tatiana Rosito and Director-General of the Italian Ministry of Economy and Finance Riccardo Barbieri Hermitte, exchanging in-depth views on bilateral and multilateral financial issues of mutual concern.