The Africa Fertilizer Financing Mechanism (the Mechanism) will launch the Fertilizer Financing for Sustainable Agriculture Management Project on August 30, aiming to boost access to fertilizer for 400,000 smallholder farmers in Uganda.
Administered by the African Development Bank Group, the Mechanism is a special fund that offers innovative financing solutions to enhance fertilizer use and improve agricultural productivity across Africa.
The project will provide a $2 million partial trade credit guarantee to fertilizer suppliers and distributors, facilitating the delivery of 60,000 tons of fertilizer to smallholder farmers in 12 districts across Uganda.
In addition, the Mechanism and its implementing partner, the African Fertilizer and Agribusiness Partnership (AFAP), will support training activities to promote soil health and good agricultural practices among smallholder farmers.
The launch ceremony, to be held at the Serena Hotel on August 30, will feature prominent speakers, including Franck Tumwebaze, Minister of Agriculture, Animal Industry and Fisheries; Dr. Martin Fregene, Director, Agriculture and Agro-Industry Department, African Development Bank; Marie Claire Kalihangabo, Coordinator, Africa Fertilizer Financing Mechanism; Anne Kristin Hermansen, Norway’s Ambassador to Uganda; and Michael Sudarkasa, CEO of AFAP.