GWFP BICIS

$20 million guarantee to support farmers through warehouse financing in Senegal

GWFP lends or provides risk mitigation solutions to banks in low income countries which in turn provide lending to small farmers and small businesses. These loans are backed by the harvested goods farmers deposit in warehouses.

 

Farming is an inherently risky enterprise and access to finance is a major challenge for farmers, especially small farmers in poor countries. Warehouse financing is a lending technique that allows farmers in emerging countries to get credit from banks secured by their harvested crops stored in warehouses.

 

Warehouse financing enables banks to reach small farmers who would otherwise be difficult to support. In Senegal, it will benefit both importers and exporters of food crops, and support the livelihoods of many small farmers. In the first GWFP project to receive investment and advisory support from GAFSP private sector window funding, IFC is guaranteeing up to $20 million of loans made by Banque Internationale pour le Commerce et l’Industrie du Senegal (BICIS), supporting a portfolio expected to reach up to $40 million.

   

 

The GAFSP Public Sector Window is also funding the Food Security Support Project in Louga, Matam, and Kaffrine Regions (PASA/Lou-Ma-Kaf) in Senegal.

 

More information

Contact Information:

  •  Mr. Niraj Shah (Head, GAFSP Unit for IFC, nshah1@ifc.org,+1-202-473-3743), based in Washington D.C.

 

Project Documents: