Agriculture Fast Track Fund
African Development Bank (AfDB)
AFT is a an Agriculture Project Preparation Facility aimed at reducing the cost of project preparation, which project sponsors may otherwise not be willing to offset. The AFT facilitates preparation of agricultural projects in Africa, especially those aimed at agriculture infrastructure development by providing grants to enhance generation of data and information that improve the quality of project preparation and make them bankable and attractive for funding by Development Finance Institutions, including agricultural finance organizations. Through this, a pipeline of investment-ready agricultural projects can be developed, also attractive to private sector sponsors.
Announcements for the opening of Call for Proposals are usually made twice every year.
What is the process of accessing an AFT grant?
Step 1: 'Call for Proposals' posted on AFT Fund website and other media
Step 2: Eligibility Screening
Step 3: Concept Notes Submission and review by AFT
Step 4: Applicants who pass the Concept Note review are invited to submit a Full Technical Application
Step 5: Submission of Full Technical Application and review by AFT
Step 6: AFT Fund’s Technical Review Committee (TRC), the Oversight Committee (OC) and the AfDB Board make the grant application approvals.
Step 7: Communication to grant winners / signing of agreement
Step 8: Grantee executes activities related to the proposed investment indicated in their grant application
Step 9: Funds disbursed from AFT Fund to the service providers selected by the grantees
Coordination Unit: Responsible for the mandate of the AFT and its daily operations. Technical Review Committee: Ensures all proposals meet or exceed the technical, safeguard and fiduciary quality standards of the Bank. Approves grants up to US $500,000. Oversight Committee: Comprised of representatives from all contributing donors and responsible for general policy direction of the facility. Approves grants between US $500,000 to US $1,000,000.
Co-funding is encouraged, but not necessary. The bank could finance the study fully provided that it does not exceed the ceiling (US$ 1.0 million). In event that you have secured funds from AFT and find that it falls short of your real study requirements, you may consider topping it up from other sources
Eligible countries are those that are members of the New Alliance Cooperation Framework. AFT supports Small and Medium Enterprises (SMEs) in the agriculture sector, government agencies preparing agriculture infrastructure projects, non-governmental and civil society organizations such as farmer organizations and agriculture Fund Managers with clients seeking last mile financing or advisory services to formulate bankable agricultural development proposals.
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