ROME - The prospect of eradicating hunger and poverty received a boost today as the UN’s International Fund for Agricultural Development (IFAD) obtained its second strong public credit rating, facilitating its access to private funds to invest in increasing rural prosperity and development in the world’s poorest countries.

The AA+ rating was announced today by Standard and Poor’s (S&P) Global Ratings. This complements the AA+ Fitch rating that IFAD received on 2 October, when IFAD became the first fund in the United Nations system to receive a public credit rating.

“As hunger grows in rural areas, the demand for our services is greater than ever and we need to broaden our investor base as much as possible,” said Gilbert F. Houngbo, President of IFAD.

“With two positive ratings, we can mobilize more funds from various potential investors at a favourable cost. And this means we can do more to increase the incomes and food supply of the poor rural people who desperately need it. This is a prerequisite for building global stability and resilience.”

As the leading global development organization dedicated exclusively to eradicating poverty and hunger in rural areas, IFAD plays a critical role in achieving the Sustainable Development Goals (SDGs) by 2030.

The recently released Ceres2030 report found that an additional US$14 billion a year, on average, is needed until 2030 to end hunger and double the incomes of 545 million small-scale farmers. This means roughly doubling the amount of aid given for food security and nutrition each year.