WFP CRDB Tanzania (IFC-37374)

Countries
  • Tanzania
Where the impacts of the investment may be experienced.
Specific Location
Dar es Salaam
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 15, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
WFP PPP Tanzania Borrowers
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 3.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 14, 2017

Disclosed by Bank Nov 8, 2016


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Project Description
IFC intends to partner with CRDB Bank plc in Tanzania to finance farmer cooperatives who supply food commodities to World Food Programme (WFP) or its Patient Procurement Platform (PPP) off-takers. Financing to farmers will be used for seasonal working capital needs such as input costs (seeds, fertilizers, etc), land preparation, weeding, harvesting, etc. Approximately 40,000 smallholder farmers are expected to benefit from this initiative through higher productivity levels, better crop quality, and lower post-harvest losses, and therefore higher and more stable revenue stream. The proposed financing package will be supported by the Private Sector Window of the Global Agriculture and Food Security Program (GAFSP).
People Affected By This Project
<font face="Verdana">The proposed project is expected to have a significant development impact by:</font><br><font face="Verdana">1) Extending access to finance and market access to 40,000 smallholder farmers in Sub-Saharan Africa.</font><br><font face="Verdana">2) Improving rural incomes and food security through increased input use and improved farming practices, given the fact that WFP will purchase only 60-70% of what will be produced by smallholder farmers.</font><br><font face="Verdana">3) Developing an innovative financing structure that can potentially be replicated in other countries or sectors.</font>
Investment Description
  • International Finance Corporation (IFC)
Contact Information
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