IFAD's strategy in Ecuador
The Republic of Ecuador is a middle-income country whose economy is highly dependent on oil and export agriculture. Following years of political and economic instability, the country has enjoyed a stable, democratically elected government since 2009. However, challenges remain. One quarter of the population still lives in poverty, mostly in rural areas.
Modernizing agriculture and reducing dependence on imported goods and services are major priorities for the Government. The National Plan for Good Living, also known as PNBV (Plan Nacional del Buen Vivir), and the National Strategy for Equality and Poverty Eradication (Estrategia Nacional para la Igualdad y la Erradicación de la Pobreza) aim to increase rural smallholder producers' productivity and efficiency by boosting use of technologies and access to key services such as health, education, infrastructure and financing.
IFAD has had operations in Ecuador since 1978. These have supported the diversification of the rural economy by promoting cooperatives and investments to generate employment and income for poor rural families. Given its overall experience in the region, IFAD can make a tangible contribution towards supporting these efforts through investments in rural areas by combining innovation with action.
In line with the priorities set by the Government of Ecuador, IFAD's strategy focuses on the following objectives:
- Improve access to assets and resources to support diversification of the Ecuadorian rural economy, promoting cooperatives and investments that generate employment and income for poor rural families in Ecuador
- Increase the capacities of rural poor producers and potential entrepreneurs to engage in, and benefit from, pro-poor and inclusive productive policies
Result-based Country Strategic Opportunities Programme (COSOP, 2014)