Following the recent release of data confirming a sharp global decline in climate finance dedicated to adaptation efforts, the UN’s International Fund for Agricultural Development (IFAD) and partners have today unveiled a new financing mechanism to boost support to small-scale food producers in rural communities in Kenya, Rwanda, Tanzania and Uganda to adapt to a changing climate.
The Africa Rural Climate Adaptation Finance Mechanism (ARCAFIM) is a large-scale model of tailored finance for poor small-scale food producers and rural microenterprises. Small and medium-sized rural agribusinesses will also access concessional loans through this new scheme. The mechanism is scalable and can be replicated in other countries and regions.
