Africa’s First Climate Credit Facility for Agriculture Launches in Kenya
Africa’s first climate adaptation credit facility for agriculture, ADAPTA, has launched with USD 1.5 million in funding from the Bill & Melinda Gates Foundation for Phase I in Kenya.
ADAPTA will develop and test an innovative loan underwriting platform that incorporates agricultural technologies and climate-smart agriculture.
ADAPTA plans to use climate scoring algorithms to transform how banks and investors assess agricultural risk to unlock financing for farmers and Agri-SMEs. These innovations will be developed in partnership with the Alliance of Bioversity International and CIAT, part of the CGIAR, the largest global network on agriculture research.
Photo courtesy of C.Schubert.
Source: Capital Business (link opens in a new window)
- climate change, innovation