Global Communities Launches Agribusiness Investment for Market Stimulation (AIMS) Program

Global Communities Launches Agribusiness Investment for Market Stimulation (AIMS) Program
NAIROBI, KENYA  – On Thursday, August 27 Global Communities will launch a $19 million USD multi-country Agribusiness Investment for Market Stimulation (AIMS) Program funded by the United States Department of Agriculture (USDA).  The five-year program will promote growth of the agricultural sector in Kenya, Tanzania and Malawi by providing financing to small and medium sized agribusinesses and providing training for businesses that work along the agricultural value chains.   Agribusiness is important to expanding the economies in all three targeted countries and this program is designed to help them overcome their key constraints of inadequate financing, lack of market information, and limited coordination among businesses that support the sector.   
The AIMS program includes a $50 million Loan Guaranty Facility (LGF) that is backed by Overseas Private Investment Corporation (OPIC), a United States Government Agency, and a longstanding partner of Global Communities. This new facility will increase small and medium sized agribusiness greater access to finance.  The program will provide tailored training to lenders to improve their ability to serve agricultural businesses, focused on risk management and products designed for this sector.  In addition the program will support technical and management training for agribusiness entrepreneurs, as well as those managing agricultural cooperatives, agriculture storage facilities, and regional agriculture exchanges. 
‘”The AIMS Program ultimately seeks to grow agricultural markets in East Africa, by addressing key gaps not addressed through existing programs run by donors and governments,” said AIMS Chief of Party Kimberly Tilock. “Agribusinesses have great potential to transform agriculture in these countries from getting modern production inputs and techniques into the hands of farmers, to promoting trade within and across borders.  AIMS will ensure these businesses grow.”
The launch will be presided by Kate Snipes, the U.S. Agricultural Counsellor for East Africa and Malawi. Other key guests will include Adan Mohamed, Kenya’s Cabinet Secretary for Industrialization and Enterprise Development and acting Cabinet Secretary for Agriculture, Tanzania High Commissioner, Malawi High Commissioner, and Chris Sale, Executive Vice President of Global Communities.
GLOBAL COMMUNITIES
Global Communities is an international non-profit organization founded in 1952 that works closely with communities worldwide to bring about sustainable changes that improve the lives and livelihoods of the vulnerable. Global Communities believes that the people who understand their needs best are the people of the community itself. Learn more at www.globalcommunities.org.