Foreign Affairs CS Raychelle Omamo has lost the race to become the president of the International Fund for Agricultural Development (IFAD), a United Nations (UN) agency.
IFAD on Thursday, July 7, appointed Spain’s Alvaro Lario as the President of the agency who will take over from Gilbert Houngbo, a former Togo Prime Minister.
“The International Fund for Agricultural Development (IFAD) today (Thursday) appointed its top finance executive, Alvaro Lario, to be its next president,” IFAD stated on its website.
The newly-elected IFAD president received massive support from delegates who had attended an IFAD conference held in Italy.
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Addressing the delegates after his appointment, Lario said that IFAD had the institutions to tackle poverty adding that all it needed was to mobilise resources.
"We have the institutions to tackle poverty, we have the know-how to reduce inequality, what we need is to mobilise resources and join forces," Lario.
The Spanish, who was serving as Ifad’s chief financial officer and an associate vice-president for financial operations before the new appointment, will serve for a four-year term which is renewable.
IGAD is an international financial institution and a specialized agency of the UN that invests in rural people, empowering them to increase their food security, improve the nutrition of their families.
