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The International Fund for Agricultural Development (IFAD) (French: Fonds international de développement agricole; FIDA) (Italian: Fondo Internazionale per lo Sviluppo Agricolo) is a specialised agency of the United Nations dedicated to eradicating rural poverty in developing countries. It was established as an international financial institution in 1977 as one of the major outcomes of the 1974 World Food Conference. Seventy-five percent of the world's poor live in rural areas in developing countries, yet only 4% of official development assistance goes to agriculture.The strategic policy of IFAD is detailed in Strategic Framework for IFAD 2011–2015: Enabling the Rural Poor to Overcome Poverty. Its headquarters is in Rome, Italy, and is a member of the United Nations Development Group.The President of the IFAD is Gilbert F. Houngbo from Togo, who was elected for a four-year term in 2017.