The African Development Bank has committed to making all its operational tools available, including financing, to help the West African country’s economic growth through agri and infrastructure development.
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The vehicle, which has a $325m hard-cap, is aiming for mid-teen net IRRs.
An examination of global agriculture reveals both encouraging signs of near-term opportunity and large uncertainties about the future, according to panelists at the Agri Investor Forum in Chicago on Wednesday.
Instead of being ‘poverty traps,’ rural areas can drive economic growth in developing countries, the FAO says.
The bank will decide by November whether to commit to the private equity vehicle, which has the same target as its predecessor but a higher hard-cap.
The organization reckons the issue is an increasingly serious threat to public health and food production.
Nigeria’s government says it is looking at similar arrangements with other institutions to help prop up the country’s farmers.
The debt investment by the UK fund will enable Kapani, a Malawian meat processor, to expand its poultry operations fivefold.
The $3.35m investment with Citrum will go towards rehabilitating banana production at a farm that is now growing grapefruit and oranges.
The UK-based DFI plans to use the farm as a hub for a regional development effort aiming to stimulate commercial agriculture in the southern African nation.