|Approval Date||20 Jun 2012|
|Signature Date||10 Sep 2012|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
The project will provide a 1-billion South African rand (ZAR) (About USD 117 million) sovereign guaranteed line of credit to the Land and Agricultural Development Bank of South Africa for on-lending to the country’s emerging farmers, commercial farmers as well as to agricultural cooperatives and agri-related businesses. Thus, this LoC will be dedicated to the agricultural sector which is generally labor-intensive. The credit, which also includes a technical assistance component for capacity building at Land Bank and at the level of its loan beneficiaries, particularly the emerging farmers, will enable the government’s to support, promote and facilitate the development and transformation of the agricultural sector in South Africa given its potential for addressing poverty alleviation, enhancing food security and job creation.
This project will help mobilize financial resources for the agricultural sector and help create jobs and incomes.
The main beneficiaries of the project are the South African Government, Land and Agricultural Development Bank, emerging black farmers, rural communities, women, agricultural enterprises, cooperatives and agro-industries.
African Development Bank
|Last Update||14 Jun 2021|