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Money can’t buy good governance – Dr Kanayo Nwanze – IFAD president

By Edwin Mbulo in Livingstone

To the Third International Conference on Financing for Development (FfD), which convenes in Addis Ababa next week.

THE key to a sustainable future free of poverty and hunger is people, says Dr Kanayo Nwanze. In a press release ahead of the world leaders 3rd International Conference on Financing for Development (FfD) to be held in Ethiopia next week, Dr Nwanze, the International Fund for Agricultural Development (IFAD) president, said the leaders who would travel to Addis Ababa need look no further than the continent to realise that there are things that money cannot buy.

“It’s not just about the money. The key to a sustainable future, free of poverty and hunger is people…. Given the right support, rural people can transform their own communities while helping to secure the world’s most essential public goods, including clean air and fresh water,” Dr Nwanze said.

He said that world leaders needed to look beyond financial resources and traditional aid.

“There are things that money can’t buy; leadership, good governance, commitment to the rule of law, and an enabling environment to attract investment,” Dr Nwanze said.

The leaders at the FfD conference will discuss how to pay for the elimination of global poverty and hunger and IFAD will play a leading role, highlighting that the world’s poorest people, the majority of whom live in rural areas, were also a tremendous resource and must be included in the new vision for a sustainable future.

“We are standing at a point of fateful decision. But between discussions around funding and goals, lie billions of rural people who are trying to feed themselves,” Dr Nwanze said.

He added that IFAD was uniquely positioned as both an international financial institution and a specialised UN agency that mobilises and invests funds in the rural sector and rural people, and that it was committed to supporting the implementation of the Addis Ababa Accord and helping to realise the sustainable development goals (SDGs).

“IFAD will continue to support developing countries to achieve inclusive and sustainable rural transformation, drawing on increasingly diversified sources of funding, and leveraging tools and partnerships. More importantly, IFAD will continue to ensure investments are of a high quality by responding to the needs of rural people in their own local context,” said Dr Nwanze.

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