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Financing smallholder farmers: NORAD grants 10.15 million USD to MAFDE

19/01/2023
Source : ORISHAS FINANCE
Categories: Sectors

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The Norwegian Agency for Development Cooperation (NORAD) has provided $10.15 million in new funding to the African Fertilizer Development Finance Facility (MAFDE), a structure managed by the African Development Bank (AfDB). The information was made public on Wednesday, January 18, on the Pan-African Bank's website. This fund will allow the entity to mainly finance smallholder farmers in Uganda, Kenya and Mozambique (countries that are benefiting from MAFDE support for the first time). For its part, MAFDE will have to offer credit guarantees over a period of up to 36 months.

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