The International Fund for Agricultural Development will provide some USD237 million in loans and grants for 12 rural development initiatives in poor nations. The money will benefit developing countries in Africa, Asia, Latin America, Near East and Central and Eastern Europe. The United Nations agency pledged an additional USD5.01 million for agricultural research and development activities. (“USD242.655 from IFAD in loans and grants for rural poverty programmes and projects in Africa, Asia, Latin America, Near East and Central and Eastern Europe” - International Fund for Agricultural Development, Sept. 15, 2008)
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