ROME-BASED INTERNATIONAL Fund for Agricultural Development (Ifad) has committed to invest another $71 million next year for projects aimed at reducing poverty in rural areas.

In a statement, Ifad said the investment would form part of the 2010-2014 Philippines Country Strategic Opportunities Programme (Cosop), which was designed to support the government?s medium-term rural poverty reduction goals.

The investment will also fulfill Ifad?s mandate to empower poor rural populations, assist governments and rural people in developing innovative approaches to reducing poverty and ensure community ownership of development projects.

Projects under the 2010-2014 Cosop are expected to benefit upland poor households, especially indigenous communities and agrarian reform beneficiaries, entrepreneurial poor in the Visayas and Mindanao and marginalized poor communities that depend on coastal resources.

Sana F. K. Jatta, Ifad country program manager for Asia and the Pacific division, said the United Nations agency would continue to work with development partners to ensure the effective implementation of these vital projects.

Since 1978, Ifad has invested $168.8 million to fund 12 projects related to agricultural development in the Philippines.

One of Ifad?s latest efforts is the Northern Mindanao Community Initiatives and Resource Management Project, which enables poor communities to plan, implement and evaluate activities they have chosen themselves.

Also, the Rapid Food Production Enhancement program is expected to support the government?s Rice Self-Sufficiency Plan, a nationwide effort to regain self-sufficiency in rice production.