FP078

Acumen Resilient Agriculture Fund (ARAF)

Acumen Resilient Agriculture Fund (ARAF)

  • Status Under implementation
  • Date approved 01 Mar 2018 at B.19
  • Est. completion 03 Sep 2030
  • ESS Category Intermediation 3

Supporting pioneering and early-growth innovative agribusinesses that enhance the climate resilience of smallholder farmers.

Agriculture is a major industry in the target countries, and up to 80 percent of farmland is managed by smallholder farmers who are highly vulnerable to the impacts of climate change. Climate resilience is key to ensuring a long term sustainable increase in agriculture productivity and incomes for smallholder farmers.

The Acumen Resilient Agriculture Fund (ARAF) will improve climate resilience to ensure long-term sustainable increases in agriculture productivity and incomes for smallholder farmers. It will shift the pattern of investment in climate change adaptation activities in Africa from grants to a long-term capital approach, enabling smallholder farmers to respond to climate change more efficiently and effectively. It will support innovative private social entrepreneurs in micro-, small, and medium-sized enterprises (MSMEs) by providing aggregator and digital platform and innovative financial services to smallholder farmers.

The project has an estimated lifespan of 12 years.

Total project value

 

Beneficiaries

 

Direct
2,100,000
Indirect
7,900,000
Theme

Adaptation

Result areas

Project timeline

Pipeline

12 Jan 2017 - 414 days

Concept note received

12 Jan 2017

Funding proposal received

04 May 2017

Cleared by GCF Secretariat

07 Aug 2017

Cleared by iTAP

26 Jan 2018

Approved

01 Mar 2018 - 552 days

Approved by GCF Board

01 Mar 2018

Legal opinion on AE's Internal Approval

27 Jun 2018

FAA executed

21 Dec 2018

Under implementation

03 Sep 2019 - 1,753 days so far

FAA effective

03 Sep 2019

Disbursement - USD 286,000

23 Oct 2019

Disbursement - USD 331,821

25 Feb 2020

Disbursement - USD 2,111,538

22 May 2020

Disbursement - USD 187,692

22 May 2020

Disbursement - USD 1,114,423

29 Jul 2020

Disbursement - USD 175,962

26 Nov 2020

Disbursement - USD 703,846

15 Dec 2020

Disbursement - USD 316,792

25 Mar 2021

Disbursement - USD 882,219

26 May 2021

Disbursement - USD 1,016,110

10 Dec 2021

Disbursement - USD 2,794,421

21 Jun 2022

Disbursement - USD 635,660

05 Oct 2022

Disbursement - USD 20,391

09 Dec 2022

Disbursement - USD 1,298,072

25 Jan 2023

Disbursement - USD 1,377,383

17 May 2023

Disbursement - USD 1,586,207

17 May 2023

Disbursement - USD 1,555,831

08 Sep 2023

Disbursement - USD 564,452

07 Dec 2023

Disbursement - USD 1,250,000

19 Mar 2024

Disbursement - USD 633,214

22 Apr 2024

To be completed

03 Sep 2030 - 2,267 days to go

One region

  • Africa

Four countries

Two priority groups

  • Least Developed Countries
  • African States
USD  
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing72% disbursed

InstrumentAmount
EquityUSD 23,000,000
GrantUSD 3,000,000
Total GCF Financing
USD 26,000,000

Co-financing

Co-financerInstrumentAmount
Co-FinancingEquityUSD 25,000,000
Co-FinancingGrantUSD 3,000,000
Co-FinancingEquityUSD 2,000,000
Total Co-Financing
USD 30,000,000

GCF Contacts

General media inquiries

GCF Communications
Send e-mail

Request for information

GCF Information Disclosure
Request information about this project

Project complaints and grievances

GCF Independent Redress Mechanism (IRM)
Phone +82 32 458 6186 (KST)
File a complaint

Integrity issues

GCF Independent Integrity Unity (IIU)
Phone +82 32 458 6714 (KST)
Send e-mail

Accredited Entity

Acumen Fund, Inc.
Ms. Lynn Roland
Primary

General Counsel
Phone +1 (212) 566-8821
lroland@acumen.org
Mr. Samuel Jewett
Secondary

ESG Insights Manager
40 Worth Street, Suite 303, New York, United States
Phone +1(612)505-8006
sjewett@acumen.org
More contacts

National Designated Authority

Ghana
Ministry of Finance
Dr. Alhassan Iddrisu Primary
Director of Economic Strategy and Research Division
P.O. Box MB 40 Ministries, Accra, Ghana
Kenya
The National Treasury
Dr Chris Kiptoo Primary
Principal Secretary
Treasury Building 12th Floor, Harambee Avenue, Nairobi, Kenya
Phone +254 20 224 0051
pstnt@treasury.go.ke
Mr. Malik Aman Secondary
Programme Manager, National Coordination (FLLoCA)
Phone +254 720 771774
malikaman@me.com
Mr. Peter Odhengo Secondary
Senior Policy Advisor, Climate Finance
Phone +254 722 984 992
odhengo@gmail.com
Mr. Hillary Korir Secondary
Senior Economist
Phone +254 722 644736
hillary.korir@treasury.go.ke
Nigeria
National Council on Climate Change
Dr. Salisu Dahiru Primary
Director General
Headquarters Mabushi, Abuja, Nigeria
Uganda
Ministry of Finance, Planning and Economic Development
Mr. Ramathan Ggoobi Primary
Permanent Secretary / Secretary to the Treasury
Phone +256414707135
ramathan.ggoobi@finance.go.ug
Ms. Maris Wanyera Secondary
Ag. Director Debt and Cash Policy
Phone +256772426456
maris.wanyera@finance.go.ug
Mr. Juvenal Muhumuza Secondary
Ag. Commissioner, Development Assistance and Regional Cooperation Department
Phone +256781051485
juvenal.muhumuza@finance.go.ug
Mr. Denis Mugagga Secondary
Head, Climate Finance Unit
Phone +256782805422
Phone +256702440655
denis.mugagga@finance.go.ug

News + Stories

Farmerline: Empowering smallholder farmers and governments to create climate-resilient agribusinesses

04 Jun 2024 / The impact of climate change is impacting all sectors, with agriculture being particularly vulnerable, and a significant contributor to its exacerbation at the same time. The agricultural sector alone is indeed responsible for 19 per cent of greenhouse gas emissions, totalling 9.9 billion tons of CO2e annually.    Agriculture is a major industry in Ghana, Kenya, Nigeria, and Uganda, with up to 80 percent of farmland managed by smallholder farmers, who are highly vulnerable to the impacts of climate change, with wide-ranging supply chain impacts. 

Reflections on climate action: How do climate investments impact people's lives?

05 Apr 2024 / "Stories are incredible...and this is why it's important to come...and witness the impact that these investments have on their lives...so that we can show the world why we need to scale these investments." — GCF Executive Director Mafalda Duarte, during her visit to GCF #climateaction projects in Kenya and Rwanda In September 2023, GCF ED Duarte visited Africa and saw first-hand the impacts of GCF-financed projects on rural communities.

GCF in Kenya: Investing in local agriculture companies to empower farmers

20 Mar 2024 / From traditional practices to climate-resilient agriculture, farmers in Kenya are harvesting increased yields and securing their livelihoods from climate issues. Thanks to FarmWorks, which was supported through GCF's investment in the Acumen Resilient Agriculture Fund (ARAF), smallholder farmers are adapting to climate challenges. FarmWorks, a Kenyan agriculture company, equips farmers with skills for sustainable farming, boosting their output and making them proactive #climateaction players. Beyond training, it connects smallholder farmers to broader markets, both locally and globally.