Even with a financial crisis looming in the background, a group of states making up the International Fund for Agricultural Development (IFAD) have agreed to back a US$3 billion, three-year program combating global poverty. Together with IFAD's partners, this will result in a total sum of $7.5 billion to be used towards agriculture and poverty reduction. Part of this funding comes from the goal of $1.2 billion in new contributions. An estimated 60 million people living in poverty will be reached through this program.
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