IFAD and AgDevCo sign $10 million loan for African agribusinesses
The blended-finance initiative targets up to 15 early-stage firms in five countries and aims to benefit about 128,000 smallholders and support 2,900 jobs.
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.
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The free-zone authority highlights an existing Food Park hosting 580 companies.
Source: Emirates News Agency (WAM)
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