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Zeist, the Netherlands, October 29, 2012
—IFC, a member of the World Bank Group, announced today that it has funding available under the Group of 20’s Global Agriculture and Food Security Program that can be used by private companies to expand agribusiness and increase opportunities for small and medium enterprises and farmers in poor countries.
IFC launched the call for investment proposals at the Africa Works Conference in the Netherlands. Through its private sector window, the program seeks proposals from private firms and financial institutions operating in low-income countries. It aims to seek out financially sustainable projects that support agriculture, increase productivity, and expand access to finance and markets.
IFC will accept proposals during the 45-day period of the call—from October 29, 2012, to December 14, 2012. IFC’s standard policies and procedures will guide the processing and approval of projects.
The GAFSP Private Sector Window provides long- and short-term loans, credit guarantees, and equity to local companies and financial intermediaries under commercial or concessional terms. It aims to reach small-scale farmers and SMEs. The Netherlands, which is hosting the Africa Works Conference, is currently the largest donor to the Private Sector Window of GAFSP which is also supported by Canada, the U.K., U.S, and Japan.
About IFC
IFC, a member of the World Bank Group is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
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About the Global Agriculture and Food Security Program (GAFSP)
GAFSP is a multilateral mechanism to assist in the implementation of pledges made by the global community to support country-led investment plans in agriculture and food security. Following commitments by G-8 leaders at the L’Aquila Summit in July 2009 and reaffirmed by the G-20 Summit in Pittsburgh in September 2009, GAFSP was established in April 2010. The program is composed of two windows: the Public Sector Window administered by the World Bank and the Private Sector Window managed by IFC. The Private Sector Window supports private initiatives to improve productivity and sustainability in agriculture and improve market access and access to finance to the agribusiness sector in low-income countries. For more information, visit
http://www.gafspfund.org/gafsp
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