Rice feeds half of the world population. It supplies 23 % of the calories consumed by the world population. International Rice Research Institute (IRRI) was established in Philippines by the Rockefeller and Ford Foundations in 1960 to address the problems of stagnant yields of rice. As a first step IRRI started assembling rice germplasm from various rice growing countries. From a small number of 6867 entries in 1962 collection has now grown to over 100,000 entries. It contains landraces, improved varieties, breeding lines, genetic markers, accessions of all the 20 wild species of rice and African cultivated rice, Oryza glaberrima. The ex situ conservation of rice is safe and cost effective. Seeds dried sown to moisture content of 6 % are stored under two temperature regimes. An active collection for medium term storage and for distribution is maintained at 2 degrees celsius. For long term storage, base collection is being kept at minus 20 degrees celsius. Since the beginning of the institute germplasm collection has been systematically characterized for morphological and agronomic traits, resistance to biotic and abiotic stresses and grain quality characteristics. Major resources have been devoted to develop improved germplasm with high yield potential, superior grain quality, shorter growth duration, resistance to diseases and insects and tolerance to abiotic stresses. Yield potential of rice was doubled  from 4 to 9 tons per hectare. Germplasm with resistance to as many as four diseases and three insects and abiotic stresses such as salinity, drought and submergence was developed. Improved germplasm was shared internationally and adopted worldwide. As a result world’s average rice yield increased from 2 to 4.2 tons per hectare. World rice production increased from 200 million tons in 1961 to 680 million tons in 2009. The price of rice on the international as well as domestic markets decreased from $400 per ton during 1960s to $ 250 per ton during green revolution. This has helped the poor people who spend 50 to 60 % of their income on food.