The International Fund for Agricultural Development (IFAD) is an international organization dedicated to reducing poverty and promoting sustainable development in rural areas of developing countries. Established in 1977, IFAD provides loans, grants, and technical assistance to help farmers, rural entrepreneurs, and smallholder farmers improve their livelihoods and increase productivity.

To achieve its mission, IFAD has a set of Articles of Agreement that guide its operations. The IFAD Articles of Agreement are a legally binding treaty signed by its member countries, which outlines the organization`s purpose, governance structure, and operations. The agreement is valid for a period of 50 years, after which it can be renewed.

The IFAD Articles of Agreement establish the governing bodies of the organization, including the Governing Council, the Executive Board, and the President. The Governing Council is the highest decision-making body, consisting of all member countries. The Executive Board is responsible for the day-to-day management of IFAD, while the President is the chief executive officer.

The agreement also outlines the purpose and objectives of IFAD, which include:

1. To promote economic and social progress in developing countries by improving their agricultural productivity and rural conditions.

2. To help rural people increase their income and improve their living standards.

3. To promote the participation of rural people, especially women and indigenous peoples, in the development process.

4. To encourage the conservation and sustainable use of natural resources.

5. To promote international cooperation in rural development activities.

Additionally, the IFAD Articles of Agreement set out the organization`s financial structure. Member countries contribute funds to IFAD, which are then used to provide loans and grants to developing countries. The agreement also establishes the terms and conditions of borrowing from IFAD, including the interest rate and repayment period.

In conclusion, the IFAD Articles of Agreement are a crucial foundation for the organization`s operations. They define its purpose, governance structure, and financial mechanisms. IFAD`s work in developing countries has helped millions of rural people improve their livelihoods, and the Articles of Agreement ensure that the organization continues to support sustainable development for years to come.