On April 21, the Netherlands signed an agreement with the World Bank Group’s International Finance Corporation  (IFC) to contribute €100 million to the Private Sector Window of the Global Agriculture and Food Security Program  (GAFSP). The Private Sector Window , managed by the IFC, provides long and short term loans, credit guarantees, and equity to support private sector activities to improve agricultural development and food security in low-income countries. The Netherlands’ contribution, along with the commitments made by Canada and the United States, will enable the Private Sector Window to reach a funding level of approximately $200 million.
The IFC recently announced the first financing from the window, a $5 million loan to the PRAN Group, a Bangladeshi agribusiness firm, to expand production capacity of one of its subsidiaries. The GAFSP loan will be accompanied by a $10 million IFC loan, highlighting the Private Sector Window’s ability to leverage other sources of financing.