The Global Agriculture and Food Security Program (GAFSP) Program was initiated in 2010 after willingness and determination shown by the leaders from G8 and G20 members. There are two windows in this program; a public sector window and a private sector window. The first one is managed by a Coordination Unit housed in the World Bank, while the second one is administered by a Secretariat housed in the International Finance Corporation (IFC).
Proposals are now being invited for award of funds from GAFSP Private Sector Window (PSW). The GAFSP PSW, initially funded by Canada, aims to complement the GAFSP Public Sector Window to support new and innovative financing designed to increase the commercial potential of small and medium sized agri-businesses and farmers by bringing them into the local, national and global value chains.
As of July 1, 2011, there are approximately $48 million dollars available in the GAFSP PSW Trust Fund, which may be made available to projects subject to approval of a donor, Project Investment Committee (PIC). The projects funded by the GAFSP PSW Trust Fund will follow IFC’s policies, procedures, and guidelines on investments and will invest alongside the IFC on the same terms and conditions. More resources are likely to be available throughout 2011 and 2012.
Eligibility Criteria
Private sector firms and financial institutions operating in member countries of International Development Association (IDA) that are not in non-accrual status are eligible to submit proposals. Where there is a compelling case, investments may be approved in IDA-blend countries subject to the approval by the PIC and IFC’s management on a case-by-case basis. Since all proposals cannot be financed with the limited resources available, successful proposals will be selected by the PIC as proposed by IFC based on an assessment of need, policy environment, and readiness of the enterprise.
The PIC will decide which proposals will be funded from the GAFSP PSW Trust Fund and will also allocate amounts on behalf of the GAFSP PSW.
Proposal guidelines and eligibility requirements are available on the GAFSP website.
Multilateral Development Banks are strongly encouraged to submit eligible investment proposals from their own pipeline for support by GAFSP PSW Trust Fund to co-invest with IFC in the selected projects.
Last date for submitting the proposals is August 17, 2011.
For more information and details, you can visit this link.
