Amid a global rise in hunger and poverty on back of the impacts of climate change and conflict, the United Nations rural development agency today announced an ambitious target to generate resources to fund loans and grants to enable millions in developing countries strengthen their food security and livelihoods.

The total, $3.5 billion, announced Tuesday by the 176 member States of the International Fund for Agricultural Development (IFAD) will enable the UN agency expand its projects and programs to benefit 47 million smallholder farmers with improved technology, finance and knowledge; improve market access for 46 million; and build resilience to climate change impact of another 24 million.

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