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The project consists in a risk-sharing facility, supported by a grant from the European Commission, to provide guarantees to Zambia Industrial Commercial Bank (ZICB) financing agri-food value chain investments in the country.
The aim is to enhance access to finance for private sector enterprises implementing agriculture value chain projects.
The Risk Sharing Facility (RSF), which complements the credit facility offered to the financial intermediary Zambia Industrial Commercial Bank (ZICB), is intended to benefit private sector companies operating in the agri-food sector in Zambia. This RSF will increase ZICB's capacity to extend its financing to riskier or smaller companies. This facility will strengthen its outreach to agri-food companies and support the integration of smallholder farmers into commercial value chains. It will enable the ZICB to offer loans on more attractive terms. The RSF will incentivise ZICB to increase access to finance to clients with limited collaterals and attract other investors. The technical assistance provided will contribute to capacity building in areas such as environmental and social standards. The proposed investment is in line with one of the key priorities of the EU Agenda for Change, namely inclusive and sustainable growth for human development. The promotion of private sector development, including SMEs, is specifically mentioned as an enabler. Zambia is identified as a country with a significant sustainable development gap to improve employment outcomes and overall economic growth. The proposed investment is expected to contribute to a number of Sustainable Development Goals (SDGs), in particular SDG8 'Decent work and economic growth'.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.