ROME, Feb 13, 2018 (BSS) - The 41st session of the Governing Council of the International Fund for Agricultural Development (IFAD) kicked off at the IFAD Headquarters here this morning.
The theme of the session is "From fragility to long-term resilience: Investing in sustainable rural economics".
IFAD President Gilbert F Houngbo delivered the welcome statement while Bangladesh Prime Minister Sheikh Hasina will deliver the keynote speech at the session.
A video message of UN Secretary General Antonio Guetteres was broadcast in the inaugural session.
On behalf of the Peruvian president, Minister for Agriculture and Irrigation of the Republic of Peru Jose Berley Arista Arbidlo will also address the inaugural session of the meeting.
At the outset of the meeting, the IFAD elected Hans Hoogervorst of the Netherlands as the new chairperson of its governing council for the next two years.
Bangladesh Finance Minister Abul Maal Abdul Muhith, Agriculture Minister Begum Matia Chowdhury and Foreign Minister AH Mahmood Ali, among others, are attending the meeting.
The Governing Council is IFAD's main decision-making body. It consists of all of IFAD's Member States and meets annually. It is attended by the official Member State representatives, i.e. Governors, Alternate Governors and any other designated advisers. Observers are also invited to attend sessions.
All powers of the Fund are vested in the Governing Council, which takes decisions on issues such as approval of new membership; appointment of the President of IFAD; matters pertaining to the permanent seat of the Fund; approval of the administrative budget and adoption of broad policies, criteria and regulations.