AfDB to launch 12 new projects to support SMEs in 6 African countries

The African Development Bank (AfDB) will launch twelve new projects to support agribusiness SMEs in 6 African countries, The Bank said in a statement.

The projects will be funded by the AfDB’s Agriculture Fast Track Fund (AFT) in Ghana, Ethiopia, Malawi, Nigeria, Mozambique and Burkina Faso.

According to the Bank, the $28.8 million envelope will help boost the investment portfolio for African agriculture and covers all activities in the agricultural value chain.

Benin, Tanzania, Côte d’Ivoire and Senegal have benefited from similar projects since the Bank launched its AFT fund in May 2013 with initial funding amounting to $23.80 million.

The AfDB-managed Fund is meant 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 takeoff of African SMEs.

Target projects range from rural feeder roads to agro-processing and marketing facilities.

About Khalid Al Mouahidi 4431 Articles
Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network