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Rice sector in Senegal: IFC, AGCelerant and BOA Senegal sign a partnership

21/03/2023
Source : ORISHAS FINANCE
Categories: Sectors

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Intending to combat the risk of scarcity, l a International Finance Corporation (IFC) a signé un partenariat avec l' entreprise agCelerant agrotechnology and Bank of Africa Senegal . This partnership consists of an investment by 4.7 billion F CFA.

Consolidating food security in Senegal is the aim of the International Finance Corporation (IFC), which has signed an agreement with AGCelerant and Bank of Africa Sénégal . The amount of 4 7 billion CFA francs (7.2 million dollars) invested is intended to facilitate access to finance for smallholders and SMEs in the rice sector. Selon la filiale de la Banque mondiale , dedicated to the private sector, “this partnership concerns nearly 5,000 microenterprises, cooperatives and farmers producing rice in Senegal”. Rice companies will thus be assisted in signing insurance contracts, the purchase of equipment and fertilizers.

For the activities to be fully successful, the three partners must each play an important role. To this end, the IFC will be responsible for mobilizing the funds, while BOA Senegal will integrate the operation into a risk-sharing mechanism. For its part, AGCelerant will provide a monitoring platform to monitor the financial and technical aid received by Senegalese farmers.

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