This report presents selected achievements and lessons learned from the growing portfolio of small livestock investments supported by IFAD. There is no universal and unique definition of “small livestock”, but in the context of this publication, the following species have been considered: poultry, swine, small ruminants, guinea pigs, and rabbits. The Introduction presents IFAD’s key messages on investing in small livestock development. The Case Studies section features a review of five relevant projects from IFAD's portfolio (in Afghanistan, Lesotho, Nepal, Senegal and Venezuela) that provide concrete examples of how IFAD is working to support small-scale farmers. Lessons learned from IFAD’s support for this sector, and some potential ways forward, conclude the report.