372AgriFI, the EU-funded Agriculture Financing Initiative, managed by EDFI Management Company, announced a USD 3 million loan to Sarvodaya Development Finance PLC (SDF), a leading licensed finance company (LFC) in Sri Lanka aiming at developing rural areas.
This investment rolls out the principle of the Global Gateway in Sri Lanka, which is Europe’s strategy to better connect the world and to create the proper conditions for attractive investment opportunities.
The Ambassador of the European Union to Sri Lanka, Carmen Moreno, added: “The European Union is delighted to support this ground-breaking investment through our AgriFI program.
Empowering Sri Lankan farmers, especially women, is vital for the country’s economic recovery and to increase food security. We are optimistic that this initiative will serve as a catalyst, attracting further investments and fostering growth in Sri Lanka’s agricultural sector.”
EDFI Management Company CEO Rodrigo Madrazo, who manages AgriFI, stated: “ This investment aligns perfectly with AgriFI’s goal of promoting financial inclusion and innovation in the agricultural sector.”
By providing access to agricultural machinery, SDF is enabling farmers to increase their productivity and profitability, contributing to a more resilient and sustainable food system in Sri Lanka.
SDF’s leasing product allows farmers to access essential agricultural machinery, such as tractors and harvesters, at affordable rates through a leasing scheme. By becoming owners of this equipment, farmers can significantly improve their yields and overall income, driving growth in Sri Lanka’s rural economy.
AgriFI Senior Investment Officer Robin Boereboom concluded: “SDF’s commitment to rural financial inclusion, particularly for women farmers, is outstanding. AgriFI’s financing will not only strengthen SDF’s agricultural offering but also keep improving livelihoods in rural areas.”
The Agriculture Financing Initiative – AgriFI, managed by EDFI Management Company, is an impact investment facility funded by the European Union.
AgriFI has the mandate to provide medium- to long-term financing for private sector enterprises active in the agri-food value chain, helping to consolidate agriculture production to achieve economies of scale and a stronger presence in markets, bringing increased food security.
