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TaiwanICDF Promotes Food Security with EBRD

TaiwanICDF Promotes Food Security with EBRD

The TaiwanICDF, together with the European Bank for Reconstruction and Development (EBRD), is launching their first Agribusiness Fund, named the “Financial Intermediary and Private Enterprises Investment Special Fund-Agribusiness Account”, a program that ensures that private agribusiness will have access to financing for development in the EBRD region. The contribution from the TaiwanICDF is a total amount of US$15 million for 10 years. The Contribution Agreement has been signed by representatives from both sides during the 2015 Donor Meeting of the EBRD.

The proceeds from the Fund, under the co-financing base, will provide financial funding to private companies in the agribusiness sector, including the SME or corporate agribusiness. The operations will be focused on the center of the food value chain, including food manufacturing, processing and packaging operations. It is expected that companies will benefit from the enhanced access to financing, and that they will be able to maximize their abilities to extend and grow, via the improvement in productivity and innovation. The investment will exert a positive and sustainable impact along the food value chain, providing a backward linkage to drive the development of primary agriculture at one end, and consumer retailing at the other. All investment projects funded will be demand-driven to ensure their financial sustainability. Their environmental and social sustainability will also be addressed in the project evaluation and implementation processes.

The EBRD region comprises 200 million hectares, equaling 13% of the world’s total arable land. It is among the leading global suppliers of basic foodstuffs like corn, wheat, rice, sunflowers and sunflower oil, and barley. This region is well positioned to play a key role as a global food supplier, but only if the agricultural production potential of the agribusiness of the region can be developed sustainably. By improving the private sector’s agricultural productivity and production efficiency, that food security can be enhanced and can incorporate all the upstream and downstream agribusiness operations into a whole.

For the past few decades, the TaiwanICDF has worked with the EBRD on the MSME development and the sustainable environmental projects. The new partnership to set up an Agribusiness account will enable both organizations to work together to assist local agribusiness in upgrading production efficiency. This program also echoes the international development agenda, particularly the issue related to food security.

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  • Date:2015/11/10