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 2031
  • 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 - 266 days so far

FAA effective

03 Sep 2019

Disbursement - USD 286,000

23 Oct 2019

Disbursement - USD 1,250,000

23 Oct 2019

Disbursement - USD 331,821

25 Feb 2020

Completed

03 Sep 2031 - 4,118 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 financing3% disbursed

InstrumentAmount
EquityUSD 23,000,000
GrantUSD 3,000,000

Cofinancing

CofinancerInstrumentAmount
Co-FinancingGrantUSD 3,000,000
Co-FinancingEquityUSD 2,000,000
Co-FinancingEquityUSD 25,000,000

GCF Contacts

General media inquiries

GCF Communications
Phone +82 10 4458 7751
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Request for information

GCF Information Disclosure
Request information about this project

Project complaints and grievances

GCF Independent Redress Mechanism (IRM)
Phone +82 32 458 6157
File a complaint

Integrity issues

GCF Independent Integrity Unity (IIU)
Phone +82 32 458 6155
Send e-mail

Accredited Entity

Acumen Fund, Inc.

Ms. Lynn Roland
General Counsel
76 Ninth Avenue, Suite 315, New York, United States
Phone +1 646 747 3955
lroland@acumen.org
Ms. Katherine Montgomery
Associate Director, Strategic Partnership
Phone +1 646 747 3955
kmontgomery@acumen.org

National Designated Authority

Uganda

Ministry of Finance, Planning and Economic Development

Mr. Keith Muhakanizi
Permanent Secretary/Secretary to the Treasury (PS/ST)
Phone +256 414 707 135
keith.muhakanizi@finance.go.ug
Mr. Andrew Masaba
Principal Economist / Climate Finance Desk Officer, Development Assistance and Regional Cooperation
Ghana

Ministry of Finance

Dr. Alhassan Iddrisu
Director of Economic Strategy and Research Division
P.O. Box MB 40 Ministries, Accra, Ghana
Nigeria

Federal Ministry of Environment

Dr. Yerima Tarfa
Director, Department of Climate Change
Department of Climate Change, Plot 444, Aguiyi Ironsi Way, Green Building Federal Capital Territory, Abuja, Nigeria, Abuja, Nigeria
Phone +234 802 492 0107
Phone +234 813 555 1311
petertarfa@hotmail.com
Kenya

The National Treasury

Mr. Peter Odhengo
Senior Policy Advisor, Climate Finance
Phone +254 722 984992
odhengo@gmail.com
Mr. Julius Muia
Principal Secretary
Treasury Building, Harambee Avenue, P.O Box 30007-00100, Nairobi, Kenya
Phone +254 20 224 0051
ps@treasury.go.ke
Mr. Hillary Korir
Economist