African Development Bank mulls $500 million facility to mobilize financing for smallholder farmers
Cote Dlvoire, March 19 -- African Development Bank Group President Dr. Akinwumi Adesina has announced plans to launch a $500 million facility designed to unlock $10 billion in financing for smallholder farmers and small agribusiness enterprises across Africa.Speaking at the High-Level Conference on Scaling Finance for Smallholder Farmers in Nairobi, Adesina revealed that Bank management is currently consulting with its Board of Directors on establishing this groundbreaking facility.The facility will deploy multiple financial instruments, including trade credit guarantees, first-loss coverage, blended finance mechanisms, and origination incentives to reduce the high transaction costs of serving enterprises, complemented by technical assistan...
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