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USAID-FinGAP and Barclays Bank financing SMiLEs in Ghana

USAID’s five year Financing Ghanaian Agriculture Project (FinGAP) is getting noticed for its positive impact on value chain development. At a time when donors are tightening financing for development, USAID-FinGAP has been able to channel much-needed private sector resources for Ghanaian Small, Medium, including Large Enterprises (SMiLEs) that previously had limited access to financing opportunities. Working closely with financial institutions and business advisory service providers, USAID-FinGAP has facilitated more than $64 million in financing through pay-for-performance incentives in Ghana’s north—a win-win for both investors and rural agribusinesses.

A December 23rd Business & Financial Times article highlights USAID-FinGAP’s successful partnership with Barclays Bank, detailing the institution’s agribusiness lending portfolio in Ghana. Business advisory service providers within the USAID-FinGAP network have simultaneously helped Barclays Bank grow its agribusiness portfolio in Ghana while increasing access to finance for SMiLEs in the soy, maize, and rice value chains in Ghana’s north. In just under a year, Barclays Bank has loaned more than $28 million to Ghanaian agribusinesses, accounting for almost half of all private sector financing facilitated through USAID-FinGAP.

 

Published December 2015.