Standard Bank Africa announced a major private sector and purely Africa-based initiative for aiding African farmers with a $100 million pledge. The pledge came is support of the goals of African Green Revolution Forum (AGRF), which convened its inaugural session in Accra, Ghana, starting on Thursday.
“The scheme will hand out loans to some 750,000 smallholder farmers in Ghana, Mozambique, Tanzania and Uganda over the next three years, and the bank is keen on funding popular cash crops such as cocoa and cashew nuts.”
The African Green Revolution Forum (AGRF), ” focuses on promoting investments and policy support for driving agricultural productivity and income growth for African farmers in an environmentally sustainable way.” The initiative will be implemented by the bank and the Alliance for a Green Revolution in Africa (AGRA), an organization chaired by former UN Secretary General Kofi Annan and dedicated to bringing private sector investment to Africa to help initiate a new Green Revolution.
Posted by Michael Lucivero.
