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Nigeria - Africa fertilizer financing mechanism (Affm) - Project Summary
The Africa Fertilizer Financing Mechanism (AFFM) was created in 2006 during the Abuja African Green Revolution summit. However it became operational in 2015, after achieving the initial capital of USD 10 Million. Following the realignment of the AFFM’s Strategy by the Governing Council in June 2018, it was decided that the AFFM focuses on the provision of credit guarantee as a tool for de-risking the financing of fertilizer value chain across the continent in order to reach the Abuja Declaration target of 50kg of fertilizer use per hectare. In regard to this new focus area, a feasibility study was conducted by the AFFM which identified credit guarantee models to help finance the fertilizer value chain.