USAID and Norway announced the Financing for Agricultural Small-and-Medium Enterprises in Africa (FASA) Fund to spur investment in Africa’s agricultural growth.

USAID and Norway will each provide an initial commitment of $35 million and they aim to reach $200 million through additional donor contributions to catalyze hundreds of millions more in commercial financing by reducing investment risk.

This fund has the potential to support 500 agri-SMEs and 1.5 million smallholder farmers, ultimately benefiting nearly 7.5 million people. The fund will also support nearly 60,000 private sector jobs.

Link to the announcement: www.usaid.gov/fasa-fund