South Africa - Land and Agricultural Development Bank of South Africa


Project Summary

Approval Date 20 Jun 2012
Signature Date 10 Sep 2012
Planned Completion Date 10 Nov 2015
Last Disbursement Planned Date 10 Nov 2015
Sovereign / Non-Sovereign Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 47,952,891.08
Status Implementation

Project General Description

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.

Project Objectives

This project will help mobilize financial resources for the agricultural sector and help create jobs and incomes.

Beneficiaries

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.

Participating Organization

Funding
African Development Bank
Implementing
Land and Agricultural Development Bank o

Information

IATI identifier 46002-P-ZA-HAA-011
Last Update 31 Oct 2019

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Contact Details

Name BANDA Jonathan Richard Kamkosi
Email j.banda@afdb.org

Geographic Location

Country South Africa