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Chinese Academy to support Agriculture Development projects in Latin America

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12 June 2013 – Beijing, China – The Inter-American Development Bank (IDB) has announced that it has signed a memorandum of understanding with the Chinese Academy of Agricultural Sciences (CAAS), on behalf of the Regional Fund for Agricultural Technology Cooperative Program (FONTAGRO), to promote cooperation between China and Latin America and the Caribbean (LAC) and improve agricultural science and technology.

“The IDB’s experience can be leveraged to create innovative ways of working with China and other member countries to address agriculture-related needs. Partnering with CASS moves us toward improving agricultural production, productivity and as a result, the overall food security in Latin America and the Caribbean,” noted Roberto Vellutini, Vice President for Countries for the IDB. CASS and FONTAGRO will work together to facilitate agricultural innovation, conduct research, promote information exchange, mobilize resources, and other related activities.

china-lacThe agreement was signed by Tang Huajun, Vice President of CAAS and the IDB’s Vellutini at a bilateral meeting held during the First Meeting of China-LAC Agricultural Ministers’ Forum, the Sub-Forum on Agricultural Science and Technology of the China-Latin America on June 8-9, 2013 in Beijing.

CAAS is a national, integrative agricultural research organization with responsibility for carrying out both basic and applied research, as well as research into new technologies impacting agriculture; and is dedicated to overcoming a broad range of challenges impacting agricultural development and support of the local rural economy.

FONTAGRO is a mechanism for cooperation in Latin America and the Caribbean, created in 1998 by 15 countries in the region (Argentina, Bolivia, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Honduras, Nicaragua, Panama, Paraguay, Peru, Spain, Uruguay and Venezuela) and the sponsorship of the IDB and the Inter-American Institute on Cooperation for Agriculture (IICA). The Fund is the only agricultural innovation platform in the LAC region that has 73 projects implemented by a consortia of countries and public-private strategic alliances.  For information about FONTAGRO, visit http://www.fontagro.org/en

Established in 1959, the Inter-American Development Bank (IDB) is a source of multilateral financing for sustainable economic, social and institutional development programs and projects throughout Latin America and the Caribbean.  More information about the IDB is at www.iadb.org.  For more about IDB projects, visit http://www.iadb.org/en/projects/projects,1229.html.

Source: Inter-American Development Bank