The African Development Bank (AfDB) has announced a significant initiative designed to support smallholder farmers and agribusinesses in Africa. The initiative includes a $500 million facility that is expected to unlock up to $10 billion in financing. This effort was announced during the High-Level Conference on Scaling Finance for Smallholder Farmers in Nairobi.
The bank’s management is actively consulting with relevant stakeholders to implement this facility, which aims to address the financing challenges faced by smallholder farmers and agribusiness entities throughout the continent. The initiative underscores AfDB’s commitment to enhancing agricultural productivity and financial accessibility for farmers in Africa.
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