The Ghana Agricultural Sector Investment Programme (GASIP) has a financing component accessible by qualified Ghanaian agribusinesses. It is a Matching Grant (MG), which is essentially a challenge mechanism.
The grant, however, is governed by strict criteria and only for pre-determined physical assets (or types of assets). The grantee (agribusiness) avails at least 10% in cash toward the asset and then applies to the Programme Coordination Unit (PCU). The PCU then verifies the cash is in place and the asset conforms to the pre-set criteria. Thereafter, the PCU provides the applicant a letter of support. The letter states that if within 12 months the applicant can find a lender to lend 60% of the value of the asset to the grantee, then the Programme will offer a down payment of 30% to complement the cash down payment of 10% (or more). This forces the lender to take risk on the grantee and to do a thorough due diligence of the grantee as a borrower. Only if the lender is satisfied will the lender agree to lend 60% of the asset value. Also, only if a lender agrees does the Programme release the other 30% as grant.
If you run an agribusiness venture and interested in exploring very innovative financing approaches, you may check out this Matching Grant provided by GASIP.
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