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Agriculture Fast Track Fund to launch 17 new projects

BY: Isaac Yeboah

The African Development Bank will on Wednesday, April 17, 2019 launch 17 new grant projects funded by the Agriculture Fast Track Fund (AFT) in support of agribusiness Small- and Medium-sized Enterprises (SMEs) in eight African countries.

The beneficiary countries are;
Ghana (4),
Tanzania (4),
Burkina Faso (2),
Malawi (2),
Mozambique (2),
Ethiopia (1),
Nigeria (1) and
Senegal (1).

The AFT Fund is managed by the Agriculture and Agro-Industry Department of the African Development Bank and supports the development of a strong pipeline of “bankable” agriculture infrastructure projects and assists African agribusiness SMEs in project preparation activities to ease their take-off.

The fund is supported by the governments of the USA (through USAID), Denmark (through DANIDA) and Sweden (through Sida).

The fund finances the project development cost of a broad range of agriculture infrastructure, spanning the entire value chain: from production to the market. Target projects range from rural feeder roads to irrigation, agro-processing and marketing facilities, and out-grower schemes. The emphasis is on projects that contribute to the food security, income enhancement, job creation, and livelihood of smallholder farmers.

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The projects are being implemented in 10 eligible regional member countries (RMEs) of the Bank: Benin, Burkina Faso, Cote d’Ivoire, Ethiopia, Ghana, Malawi, Mozambique, Nigeria, Senegal and Tanzania.

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