Rwanda: Launch of a new fund to finance farmers
The Dutch government is investing over €2million to create an Agri-Sector Development Facility (ASDF) in Rwanda, which is expected to boost innovation in the agricultural sector.The Dutch government is investing over €2million to create an Agri-Sector Development Facility (ASDF) in Rwanda, which is expected to boost innovation in the agricultural sector.
This facility is a flexible funding mechanism designed to facilitate the introduction and application of new innovative practices, partnerships and business models for Rwandan farmers, The New Times reports.
The Secretary of the Ministry of Agriculture, Ernest Ruzindaza, said on Thursday (December 12th) in Kigali that access to finance for farmers has been a challenge and thus the facility was coming in handy.
The ASDF has two distinct windows for funding initiatives, the Agri-Sector Innovation Fund (ASIF) and the Capacity Building and Small Investments Fund (CaBIF).
ASIF provides contributions of up to €100.000 to multi-actor initiatives aimed at boosting agri-sector development, while CaBIF will be providing a 50 percent co-funding up to a maximum of €10.000 for capacity development activities and innovative investments of producers organisations and of small agri-business enterprises.
Agriculture is an unmovable cornerstone of Rwandan society, with 80 percent of people depending on the land for their livelihoods.