Rome, Italy:  12 February 2025 – Islamic Development Bank (IsDB) President, H.E. Dr. Muhammad Al Jasser addressed the  48th IFAD Governing Council in Rome,  where he  reaffirmed the Bank's unwavering commitment to driving First Mile transformation through long-term investments, an IFAD strategy that the Bank believes is crucial in tackling the challenges of global food insecurity and eradicating poverty and hunger. This commitment is in line with this year's IFAD theme of "Catalyzing Investment at the First Mile."

President Al Jasser informed the IFAD Governing Council that the IsDB has already committed a US$ 10.5 billion financial package to help member countries weather the global food crisis. Additionally, the Bank is  significantly investing in Climate-Smart Agriculture by supporting sustainable agricultural practices that enhance food security and climate resilience, Agro-Industrialization by assisting member countries in transitioning from subsistence farming to agro-industrial hubs, and Capacity Building, which is systematically embedded in the Bank's programs and enhanced through the Reverse Linkage cooperation mechanism. 

President Al Jasser applauded IFAD's commitment to transformative impact —empowering millions of rural communities and shaping a more food-secure world. However, he stressed that despite collective efforts, hunger and poverty persist at alarming levels. He called for urgent action to unlock the potential of the First Mile through a deliberate shift of focus from traditional agricultural production to developing robust, climate-smart agri-food systems. This strategic approach integrates food security, climate resilience, and fragility into a holistic development approach, leveraging technology and digital transformation to enhance productivity and market access, expanding financial inclusion through innovative financing mechanisms for smallholder farmers, and strengthening legal and regulatory frameworks to support rural economies. 

The IsDB President encouraged Multilateral development banks and other development partners to redouble their efforts to invest in the First Mile. He emphasized the need to build stronger partnerships for agricultural and rural transformation to support smallholder farmers and to scale impact through deeper collaboration —mobilizing concessional financing to de-risk rural investments and attract private sector participation.