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.
For information on conditions of participation and eligibility criteria,
please visit http://www.gafspfund.org.
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.
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.