Date: 26 Nov, 2020
Location: Virtual Workshop
In continuation of its efforts to mobilize additional financial resources to finance small and medium scale farmers and producers in Arab countries, and in line with AAAID’s webinar titled “Financing Small and Medium Scale Farmers and Producers”, that was held last September, the most important resolution of which was the invitation of Arab, regional and international funding institutions to contribute to the establishment of a revolving loan fund aimed to serve small scale farmers and producers.
On Thursday 26/11/2020, the Arab Authority organized a virtual workshop on establishing a fund to finance small and medium scale farmers. During the event, about 30 participants from various regional and international institutions and organizations participated.
The workshop reviewed the AAAID’s efforts in the field of supporting and financing small farmers in Sudan and Arab countries. A proposal was also presented to establish a revolving loan fund with a suggested capital ranging between USD 150 to 200 million.
During the workshop, attendees stressed the importance of the pioneering role played by the Arab Authority for Investment and Development in Arab agriculture, as well as its ground-breaking experience in supporting and financing small and medium scale farmers and producers in Arab countries.
The workshop resulted in the recommendations to form a proposed technical committee consisting of: (International Fund for Agricultural Development (IFAD), Arab Bank for Economic Development in Africa (BADEA), Arab Fund for Economic and Social Development, Arab Organization for Agricultural Development(AOAD), Arab Gulf Program for Development (AGFUND), The Arab Investment Company, Saudi Fund for Development, Food and Agriculture Organization of the United Nations (FAO), the Agricultural Bank of Egypt in addition to the Arab Authority for Agricultural Investment and Development(AAAID). This is in order to carry out the tasks of preparing the powers of reference to prepare a study for establishing the fund. As well as address qualified houses of expertise to submit their offers to prepare a feasibility study of the fund, evaluate the offers received from expert houses, and then recommend the offer that meets the conditions of the Supreme Committee.