International Finance Corporation (IFC) and the Global Agriculture and Food Security Program (GAFSP) are partnering with the United Nations World Food Security Program (WFP) to finance smallholder farmers in Rwanda and Tanzania.
The Global Agriculture and Food Security Program is a multilateral mechanism that implements the pledges made by the global community to support country-led investment plans. It aims to improve the livelihoods of SMEs and smallholder farmers through sustainable solutions to improve finance access and reduce agriculture risks.
The initiatives with KCB Bank Rwanda Limited and CRDB Bank Plc Tanzania will improve food security among vulnerable people in the two countries. They are part of the Farm to Market Alliance, a multi-stakeholder platform to create agriculture value chains that secure sizeable local and international demand for smallholder farmer produce of which IFC and WFP are global members.
David Beasley, WFP Executive Director noted, “Smallholder farmers produce most of the world’s food, but they form the majority of people living in poverty and they often have food security challenges themselves.”
The initiatives will help the farmers get access to international markets to build more demand for their products and make long-term impact on their economic future, raising their living standards and giving them more opportunities.
“Agribusiness drives many African economies and creates the most jobs on the continent,” said IFC CEO Philippe Le Houérou.
IFC and GAFSP will provide advisory services comprising capacity building activities to improve the professionalism of smallholder farmer cooperatives in financial management and governance; and agronomy and training on input use.