The International Fund for Agricultural Development is a financial institution of the United Nations system that specializes in providing food and agricultural development loans to developing member countries. The English abbreviation IFAD. It was established in 1976 based on the 1975 World Food Conference and officially started business activities in 1978. There are 142 member states. Headquartered in Rome, Italy. Its purpose is to raise funds, issue agricultural loans to developing member countries on preferential terms, support agricultural development, eliminate poverty and malnutrition, and promote North-South and South-South cooperation in agriculture.