FP078
Acumen Resilient Agriculture Fund (ARAF)
Acumen Resilient Agriculture Fund (ARAF)
Supporting pioneering and early-growth innovative agribusinesses that enhance the climate resilience of smallholder farmers.
Agriculture is a major industry in the target countries, and up to 80 percent of farmland is managed by smallholder farmers who are highly vulnerable to the impacts of climate change. Climate resilience is key to ensuring a long term sustainable increase in agriculture productivity and incomes for smallholder farmers.
The Acumen Resilient Agriculture Fund (ARAF) will improve climate resilience to ensure long-term sustainable increases in agriculture productivity and incomes for smallholder farmers. It will shift the pattern of investment in climate change adaptation activities in Africa from grants to a long-term capital approach, enabling smallholder farmers to respond to climate change more efficiently and effectively. It will support innovative private social entrepreneurs in micro-, small, and medium-sized enterprises (MSMEs) by providing aggregator and digital platform and innovative financial services to smallholder farmers.
The project has an estimated lifespan of 12 years.
Project timeline
Pipeline
12 Jan 2017 - 414 days
Concept note received
12 Jan 2017
Funding proposal received
04 May 2017
Cleared by GCF Secretariat
07 Aug 2017
Cleared by iTAP
26 Jan 2018
Approved
01 Mar 2018 - 552 days
Approved by GCF Board
01 Mar 2018
Legal opinion on AE's Internal Approval
27 Jun 2018
FAA executed
21 Dec 2018
Under implementation
03 Sep 2019 - 1,909 days so far
FAA effective
03 Sep 2019
Disbursement - USD 286,000
23 Oct 2019
Disbursement - USD 1,250,000
23 Oct 2019
Disbursement - USD 331,821
25 Feb 2020
Disbursement - USD 2,111,538
22 May 2020
Disbursement - USD 187,692
22 May 2020
Disbursement - USD 1,114,423
29 Jul 2020
Disbursement - USD 175,962
26 Nov 2020
Disbursement - USD 703,846
15 Dec 2020
Disbursement - USD 316,792
25 Mar 2021
Disbursement - USD 882,219
26 May 2021
Disbursement - USD 1,016,110
10 Dec 2021
Disbursement - USD 2,794,421
21 Jun 2022
Disbursement - USD 635,660
05 Oct 2022
Disbursement - USD 20,391
09 Dec 2022
Disbursement - USD 1,298,072
25 Jan 2023
Disbursement - USD 1,586,207
17 May 2023
Disbursement - USD 1,377,383
17 May 2023
Disbursement - USD 1,555,831
08 Sep 2023
Disbursement - USD 564,452
07 Dec 2023
Disbursement - USD 633,214
22 Apr 2024
Disbursement - USD 1,020,486
09 Jul 2024
Disbursement - USD 346,348
25 Oct 2024
To be completed
03 Sep 2030 - 2,111 days to go
-
Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing78% disbursed
| Instrument | Amount |
|---|---|
| Equity | USD 23,000,000 |
| Grant | USD 3,000,000 |
| Total GCF Financing |
|---|
| USD 26,000,000 |
Co-financing
| Co-financer | Instrument | Amount |
|---|---|---|
| Co-Financing | Equity | USD 25,000,000 |
| Co-Financing | Grant | USD 3,000,000 |
| Co-Financing | Equity | USD 2,000,000 |
| Total Co-Financing |
|---|
| USD 30,000,000 |
GCF Contacts
General media inquiries
GCF CommunicationsSend e-mail
Request for information
GCF Information DisclosureRequest information about this project
Project complaints and grievances
GCF Independent Redress Mechanism (IRM)Phone +82 32 458 6186 (KST)
File a complaint
Integrity issues
GCF Independent Integrity Unity (IIU)Phone +82 32 458 6714 (KST)
Send e-mail
Entity
Acumen Fund, Inc.
ESG Insights Manager
40 Worth Street, Suite 303, New York, United States
More contacts
National Designated Authority
Ministry of Finance
Ag. Director, Climate Financing Division
P.O.Box MB40, Ministries, Accra, Ghana
Phone +233244152226
aquansah@mofep.gov.gh
romensah@mofep.gov.gh
jsmith@mofep.gov.gh
fgyamfi@mofep.gov.gh
aasante@mofep.gov.gh
The National Treasury
Principal Secretary
Treasury Building 12th Floor, Harambee Avenue, Nairobi, Kenya
Programme Manager, National Coordination (FLLoCA)
Senior Policy Advisor, Climate Finance
National Council on Climate Change
Special Presidential Envoy on Climate Action (SPEC)
Office of the President of the Federal Republic of Nigeria, State House, Abuja, Nigeria
Director-General and Chief Executive Officer
14 Vistula Close, Maitama, FCT, Abuja, Nigeria
Ministry of Finance, Planning and Economic Development
Permanent Secretary / Secretary to the Treasury
Ag. Director Debt and Cash Policy
Ag. Commissioner, Development Assistance and Regional Cooperation Department
Head, Climate Finance Unit
Documents
| Title | Type | Date |
|---|---|---|
| 2023 Annual Performance Report for FP078: Acumen Resilient Agriculture Fund (ARAF) | Annual Performance Report | 27 Mar 2024 |
| 2022 Annual Performance Report for FP078: Acumen Resilient Agriculture Fund (ARAF) | Annual Performance Report | 31 Mar 2023 |
| 2020 Annual Performance Report for FP078: Acumen Resilient Agriculture Fund (ARAF) | Annual Performance Report | 03 Sep 2021 |
| Acumen Resilient Agriculture Fund: at a glance | Case study | 14 Jul 2020 |
| 2019 Annual Performance Report for FP078: Acumen Resilient Agriculture Fund (ARAF) | Annual Performance Report | 30 Mar 2020 |
| Gender action plan for FP078: Acumen Resilient Agriculture Fund (ARAF) | Gender action plan | 23 May 2018 |
| Gender assessment for FP078: Acumen Resilient Agriculture Fund (ARAF) | Gender assessment | 22 May 2018 |
| Acumen Resilient Agriculture Fund (ARAF) | Approved funding proposal | 27 Mar 2018 |
News + Stories
Farmerline: Empowering smallholder farmers and governments to create climate-resilient agribusinesses
04 Jun 2024 / The impact of climate change is impacting all sectors, with agriculture being particularly vulnerable, and a significant contributor to its exacerbation at the same time. The agricultural sector alone is indeed responsible for 19 per cent of greenhouse gas emissions, totalling 9.9 billion tons of CO2e annually. Agriculture is a major industry in Ghana, Kenya, Nigeria, and Uganda, with up to 80 percent of farmland managed by smallholder farmers, who are highly vulnerable to the impacts of climate change, with wide-ranging supply chain impacts.
Reflections on climate action: How do climate investments impact people's lives?
05 Apr 2024 / "Stories are incredible...and this is why it's important to come...and witness the impact that these investments have on their lives...so that we can show the world why we need to scale these investments." — GCF Executive Director Mafalda Duarte, during her visit to GCF #climateaction projects in Kenya and Rwanda In September 2023, GCF ED Duarte visited Africa and saw first-hand the impacts of GCF-financed projects on rural communities.
GCF in Kenya: Investing in local agriculture companies to empower farmers
20 Mar 2024 / From traditional practices to climate-resilient agriculture, farmers in Kenya are harvesting increased yields and securing their livelihoods from climate issues. Thanks to FarmWorks, which was supported through GCF's investment in the Acumen Resilient Agriculture Fund (ARAF), smallholder farmers are adapting to climate challenges. FarmWorks, a Kenyan agriculture company, equips farmers with skills for sustainable farming, boosting their output and making them proactive #climateaction players. Beyond training, it connects smallholder farmers to broader markets, both locally and globally.