Director General's Message
Awards and Accolades
Statement by the Chair of the IRRI Board of Trustees for the year ended 31 December 2019
2019 was a significant year with regards to the advancement of IRRI’s mandate of creating impact. The institute continues to pursue and strengthen relationships with governments and private sector partners around the world, taking the lead in strategic initiatives and supporting transformative innovations in both policy and technology. Research remains a core strength, as numerous projects in IRRI Headquarters, the South Asia Regional Centre in India, and the regions gain momentum and deliver key outputs. While the global financial situation continues to be challenging, enhanced management of resources and fiscal responsibility have led to the institute’s first net surplus in six years.
IRRI continues to be the lead center for the CGIAR Research Program on Rice (RICE CRP), joined by the Africa Rice Center (AfricaRice), the International Center for Tropical Agriculture (CIAT), and over 600 other partners across the globe. RICE CRP aims to address nine of the 17 United Nations Sustainable Development Goals (SDCs) and 26 of their 169 targets. The RICE CRP has been approved for operation through 2021.
Despite continued budget cuts in the CGIAR Fund in 2019, IRRI’s financial position remains stable, with total assets of USD 73.664 million compared with USD 83.829 million in 2018. The decrease of USD 10.165 million was balanced by a corresponding decrease in total liabilities and net assets. The liquidity and long-term stability indicators remained above CGIAR benchmarks. After six (6) consecutive years of losses, IRRI reported a net surplus of USD 1.187 million in 2019.
In 2019, IRRI’s grant portfolio was USD 63.791 million, which included USD 4.063 million of RICE CRP Windows 1 and 2 funds for the flagship expenses of our CGIAR partners, AfricaRice and CIAT.
In 2018, the Institute's financial statements became fully compliant to International Financial Reporting Standards (IFRS) and are now aligned with international quality standards for financial reporting that are recognized inter alia by donors, the banking industry, partners, and potential collaborators. Further, compliance to this standard allows for comparability with other organizations and enhances the annual audit report.