New LP on the block: IFAD reveals it can now invest in funds
The International Fund for Agricultural Development (IFAD), a specialised United Nations agency and international financial institution, recently revealed it can now directly fund private sector entities and invest in funds targeting rural SMEs.
IFAD this week announced an investment of $9 million into the Agri-Business Capital (ABC) Fund, a blended capital impact fund, managed by Bamboo Capital Partners.
“The private sector’s involvement in the eradication of hunger and poverty was crucial before the COVID-19 crisis. Now it has become even more important as we work to reduce some of the immediate impacts of the crisis and plan for a longer-term recovery when it is over,” said Gilbert F. Houngbo, president of IFAD. “More than ever, we need to join forces with the private sector to help small-scale producers and rural SMEs preserve and create jobs for those who are more likely to be left behind.”
IFAD’s investment in the ABC Fund is part of a wider plan to scale up IFAD’s engagement with the private sector and design innovative instruments to help increase investments in rural areas and help the private sector overcome the challenges of investing in small-scale agriculture, recognising that rural SMEs constitute an untapped business opportunity.
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