35.1 The International Fund for Agricultural Development (IFAD) was set up in 1977 on the recommendation of the World Food Conference, which supported the setting up of an institution to finance agricultural development projects primarily for the expansion of food production in developing countries. The recommendation was endorsed by the United Nations General Assembly and the fund has been set up as the 13th Specialised Agency of the United Nations. IFAD present membership is 145 countries, classified in three categories-OECD group (Category I) OPEC Group (Category II), and Non-Oil developing countries (Category III).
35.2 Upto 31.3..99, IFAD has extended to India loans for total value of USD 345.56 Million. The projects assisted by IFAD are as under:
(Figs. in US$ Million)
a) Bhima Command Area Development Project
b) Rajasthan Command Area Development Project
c) Sunderban Development Project
d) M.P.Medium Irrigation Project
e) 2nd U.P.Public Tubewells project
f) Orissa Tribal Development Project
g) Tamil Nadu Womens Development Project
h) A.P.Tribal Development Project
i) A.P. Participatory Tribal Development
j) Maharashtra Rural Credit Project
k) Mewat Area Development Project
l) Rural Womens Development & Empowerment Project
m) North Eastern Region Community Resources Management Project
35.3 IFAD loans are repayable over a period of 40 years including a grace period of 10 years and carry no interest charges. However, a service charge at the rate of three fourths of one percent (0.75%) per annum is levied on loan amount withdrawn and outstanding.
35.4 Brief terms and conditions of loan, utilisation and debt servicing payments thereof are given in Annexure-I.