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Wednesday, September 27, 2023

Nigeria, five others to benefit from AfDB’s agriculture fund for SMEs

The African Development Bank (AfDB) will on Tuesday, March 27, 2018 launch 12 new projects funded by the Agriculture Fast Track Fund (AFT) on to support agribusiness small and medium-sized enterprises (SMEs) in Nigeria and five other countries – Burkina Faso, Ethiopia, Ghana, Malawi, Mozambique and Ghana.

Akinwumi Adesina
Dr. Akinwumi Adesina, President of the African Development Bank (AfDB)

The launch period ends on Thursday, March 29.

The Agriculture Fast Track Fund is managed by the AfDB to support the development of a strong pipeline of “bankable” agriculture infrastructure projects, funded by the governments of the United States, Denmark and Sweden, in support of project preparation activities to facilitate the take-off of African SMEs.

The AFT finances the project development cost of a broad range of agriculture infrastructure spanning the entire value chain, from production to market. Target projects range from rural feeder roads to agro-processing and marketing facilities, and outgrower schemes. Emphases are on projects that contribute to food security and support to smallholder farmers.

The projects are being implemented in 10 eligible regional member countries of the AfDB – Benin, Burkina Faso, Côte d’Ivoire, Ethiopia, Ghana, Malawi, Mozambique, Nigeria, Senegal and Tanzania.

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