Other Institutions

In addition to the World Bank Group as well as the regional and European financial institutions, there is a whole range of other international financial institutions that have a more focused thematic or regional mandate, such as the International Fund for Agricultural Development or the Global Environment Facility.

International Fund for Agricultural Development (IFAD)

The International Fund for Agricultural Development (IFAD) was founded in 1977 and invests in in rural people of its member states with the goal of transforming agriculture, rural economies and food systems. It is a specialized agency of the United Nations based in Rome.

Today more than 700 million people continue to suffer from hunger and malnutrition, while 80% of the world’s extremely poor people live in rural areas. At the same time, land degradation, water scarcity, severe weather events, biodiversity loss and declining agricultural productivity threaten the economic stability of rural areas, reducing incomes, job opportunities and food security.

Therefore, issues of agriculture, sustainable food production, rural development and food security have not only become the focus of development policy discussions in the wake of recurring food crises, but have also gained enormous importance in connection with climate change and increasing migration flows.

IFAD is an organization specializing in the transformation of the rural economic sector and food systems towards greater inclusivity, productivity, resilience and sustainability, by mobilizing and implementing the necessary resources for programs to support the poorest rural populations in developing countries. This is achieved through periodic fund replenishments by its members and through co-funding arrangements with development partners. IFAD uses the financial resources to grant loans to developing countries, the poorest among them on very favorable terms, and to a lesser extent non-repayable grants.

The Fund currently has 180 members; it is operational in 92 of them. IFAD is currently implementing projects under the 13th replenishment of the fund where USD 1.4 billion have been pledged by member states for the years 2025 to 2027. Austria’s contribution accounts for 1.39 percent of the total pledged sum.

Global Environmental Facility (GEF)

The Global Environment Facility (GEF) is an international financing mechanism established to address global environmental issues in the areas of biodiversity, climate change, chemicals and waste, land degradation and international waters. Funding is provided through a trust fund set up at the World Bank, which is replenished every four years. The 8th replenishment period of the GEF runs from July 1, 2022, to June 30, 2026. Negotiations for the 9th replenishment period are scheduled to take place in 2025 and are expected to conclude by spring 2026.

The GEF finances projects in developing and transitioning countries that aim to address global environmental challenges. GEF projects are implemented by various agencies, including UNDP, the World Bank Group, UNEP, FAO, UNIDO, IDB, AsDB, IFAD, EBRD, Conservation International, AfDB, IUCN, World Wildlife Fund, the Development Bank of Southern Africa, Funbio, CAF, the West African Development Bank, and FECO. The policy guidelines for the GEF’s areas of focus are defined by the respective environmental conventions.

The GEF was established in 1991 and Austria is a founding member. Today, the GEF has 186 member countries and is the largest financier of global environmental projects.

The organizational structure of the GEF consists of the Assembly, the Council, and the Secretariat. The CEO/Chairperson of the GEF is elected for a four-year term (currently Carlos Manuel Rodríguez).