The Agriculture Fast Track (AFT) Fund is facilitating investments in agricultural infrastructure in Africa by lowering project preparation costs for AFT Grant Recipients. The AFT Fund is a multi-donor trust fund managed by the African Development Bank with funding support from the US government represented by USAID (US$ 14.024 million), the Danish Government represented by DANIDA (US$ 1.823 million) and the Swedish Government represented by SIDA (US$ 7.837 million). It was launched on 8 May 2013 with initial funding amounting to US$ 23.684 million. The AFT is housed at the Agriculture & Agro-Industry Department (AHAI) of the African Development Bank.
The AFT will provide grant funding for the initial project development costs of a broad range of agriculture infrastructure projects spanning the entire value chain – from production to market. These can emanate from the private or public sector and from local or international businesses. The types of projects envisioned range from rural feeder roads to agro-processing and marketing facilities to out-grower schemes. The emphasis will be on projects that contribute to food security and support to smallholders.
The AFT can provide support including, but not limited to:
Agriculture Fast Track Fund has initiated its activity covering 10 African states who are members of the New Alliance for Food Security and Nutrition in Africa: Benin, Burkina Faso, Côte d’Ivoire, Ethiopia, Ghana, Malawi, Mozambique, Nigeria, Senegal and Tanzania. The countries that have entered into agreement with the G8 to refine their policies in order to improve investment opportunities and accelerate the implementation of their country‐led Comprehensive Africa Agriculture Development Programme (CAADP) plans on food security.
The AFT will be extended to other countries joining the New Alliance for Food Security and Nutrition, thus establishing a Cooperation Framework for Food Security and demonstrating commitment in agreement with the G20 countries in order to improve investment opportunities.