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IFAD and AgDevCo signed a $10 million loan agreement on 3 September for early-stage African agricultural businesses. The Government of Canada is a financing partner; the initiative combines risk-tolerant capital with technical assistance.

It is expected to support up to 15 enterprises in Ethiopia, Kenya, Rwanda, Tanzania and Uganda, benefit nearly 128,000 smallholder farmers and support about 2,900 full-time jobs over 12 years. Locally owned and women-led companies are a priority.