| The Agricultural finance training is a project activity within the framework of the AGRAR II project of AFOS-NIG-INGO, which seeks to enhance, and harness the capacity of Microfinance banks in Nigerian to provide agricultural finance services such as microloans, savings, payments, microinsurance etc. to their individual, and MSME customers involved in agriculture and other allied businesses, in order to boost food production through support to smallholder farmers, small and medium-size agribusinesses and micro-entrepreneurs. Through the project, AFOS is providing Agricultural finance training to loan officers and managers of microfinance banks, to equip them to understand the business of agriculture as well as to achieve effective and efficient piloting of specific agricultural finance schemes that eventually translate to sustainable growth in the agricultural loan portfolio of the Microfinance banks. |
- Measurable economic growth is supported by the availability of intentional programmes that provide the poor and low-income earners with access to the factors of production, especially credit. Microfinance continues to perform as a vehicle to promote the economically active poor, for the growth of micro and small entrepreneurs and to stimulate the informal sector by providing financial services to the low-income and economically active individuals who are excluded by the commercial banks.
- The Agricultural Finance project aims to improve the growth and sustainability of microfinance practitioners in Nigeria, linking partner MFBs and smallholder farmers for tailor-made financial products, and accelerated and efficient agricultural lending, among other activities with deliberate efforts to create synergies between the project and other interventions of the AFOS-NIG partners in Nigeria.
- The project is focusing on good international practices in developing and deepening knowledge and culture of agricultural finance to both microentrepreneurs and Microfinance Banks by achieving the following:
- Developing a detailed knowledge base through training on specific agricultural finance products and services,
- Enhancing the growth of agricultural loan portfolio to microentrepreneurs and smallholder farmers in Nigeria,
- Developing and deepening the understanding and practice of lending to farmers and agribusinesses by partner MFBs.
- Achieving value-based organizational development.
- Effective monitoring and evaluation of pilot-run activities with Microfinance Banks
- Improving the management skills of Agro-industry partners (covering the full spectrum of management, including trainees and talent pool, coaching and mentoring),
- Empowering farmers and MSEs in financial and entrepreneurial management,
- Linking partner MFBs and smallholder farmers for accelerated and efficient lending to functioning value chains and with tailor-made financial products.
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