This month, USAID Administrator Rajiv Shah visited Abuja, Nigeria and met with government officials to launch a groundbreaking partnership that is expected to leverage up to $100 million in commercial lending for the country’s agriculture sector.
Under the agreement, USAID’s Development Credit Authority will mobilize private financing through local lenders to help first-time borrowers in Nigeria access credit.
The Central Bank of Nigeria will provide risk mitigation, financing, trading and other strategic assistance to agribusiness in Nigeria to spur lending in agriculture.
Joining Nigerian Minister of Agriculture Akinwumi Adesina and other officials at the Central Bank of Nigeria on January 17, Administrator Shah said that the partnership “will drive growth, deliver profits and expand opportunities for poorer and marginalized communities around the country.”
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