Why in news?
On 12 May 2026 the Government of India and the International Fund for Agricultural Development (IFAD) launched a new Country Strategic Opportunities Programme (COSOP) for 2026–2033. The eight‑year roadmap aims to expand investments, improve rural incomes and build climate resilience among smallholders. It aligns with the “Viksit Bharat 2047” vision and emphasises knowledge sharing with other developing countries.
Background
IFAD is a specialised agency of the United Nations and an international financial institution. It was established in 1977 following a global call to tackle rural poverty after the 1974 World Food Conference. Headquartered in Rome, it is the only multilateral institution exclusively focused on reducing rural poverty and hunger. IFAD extends concessional loans and grants to developing and middle‑income countries with widespread rural poverty. Its membership includes around 178 states, and governance is vested in a Governing Council and an Executive Board. The fund works with governments, civil society and the private sector to improve poor rural people’s access to finance, markets, technology, land and natural resources.
Key functions
- Provides loans and grants on favourable terms for projects that enhance agricultural productivity, diversify incomes and build resilience to climate change.
- Supports smallholder farmers, fishers, pastoralists and landless labourers, with special attention to women and youth.
- Promotes innovation and sustainable practices such as climate‑smart agriculture and public‑private‑producer partnerships.
- Invests in capacity building of grassroots institutions like self‑help groups, producer organisations and micro‑enterprises.
Highlights of the 2026–2033 COSOP
- Focuses on strengthening social, economic and climate resilience of rural communities.
- Encourages expansion of inclusive financial services and digital tools for farmers.
- Emphasises knowledge sharing; India will showcase successful models (like self‑help groups, digital agriculture platforms and climate‑resilient farming) to other countries.
- Aligns with national programmes such as Pradhan Mantri Krishi Sinchayee Yojana and the goal of doubling farmers’ incomes.
Significance
The new COSOP deepens a partnership that began in 1979. By investing in grassroots institutions and climate‑resilient agriculture, it seeks to lift millions of rural households out of poverty and position India as a source of development expertise for other nations.
Sources: DD News