Committed to consolidating food security in Senegal, the International Finance Corporation (IFC) has sealed a partnership with agCelerant and Bank of Africa Senegal in height of 4.7 billion CFA francs (7.2 million dollars), intended to facilitate access to financing for smallholders and SMEs in the rice sector.
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“This partnership will concern nearly 5,000 microenterprises, cooperatives and farmers producing rice in Senegal”, specifies the subsidiary of the World Bank, devoted au private sector, to Young Africa.
Reorganization of value chains
While IFC will mobilize the funds, Bank of Africa Senegal will integrate the operation into a risk-sharing mechanism. Rice companies will thus be supported in signing insurance contracts, purchasing equipment and fertilizers.
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For its part, agCelerant will provide a platform of