Africa Agriculture Accelerator Program

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 The proposed Project entails an 8-year Risk Sharing Facility (the “RSF”) with IFC guaranteeing the credit risk of Bank of Africa Senegal (the “Bank”) for up to US$7.2 million in XOF equivalent, on a portfolio of loans from the Bank to eligible Very Small, Small and Medium Enterprises (“VSMEs”), Cooperative, smallholder farmers in the rice value chain in Senegal (the “Country”), of up to US$8.0 million in XOF equivalent. Such loans shall be originated via agCelerant, an agri-tech company based in Senegal, which aggregates smallholder farmers into an organized value chain utilizing its proprietary agency network to profile farmers, provide necessary inputs and capacity training, and a secured off-take for the rice production. The Project is expected to be supported by the Private Sector Window of Global Agriculture and Food Security Program (“GAFSP”), a multilateral program financed through contributions by several governments administered by IFC, in its capacity as implementing entity, to support agriculture-related projects in developing countries.