The Nigerian government will provide $100 million in long-term financing to agribusinesses through The Fund for Agricultural Financing (FAFIN), a private equity and quasi-equity debt fund created by the federal ministry of agriculture, the German Development Bank, and the ministry of finance. The fund will provide financing of between $2 million and $5 million for qualified agribusinesses. The announcement of the funding was made at the opening of the Nigeria Agribusiness Group, a private sector group including stakeholders from all parts of the agricultural value chain which was created to help the country diversify beyond oil and gas by ensuring the continued development of a health business environment for agriculture in the country.
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