The Export Development and Investment Fund (EDIF) was established by Act 582 dated 4th October 2000 to provide financial resources for the development and promotion of the export trade of Ghana.
By the Export Development and Agricultural Investment Fund Act 823 dated 25th October, 2011, Act 582 was amended to include the provision of financial resources for the development and promotion of agriculture relating to agro-processing and agro-processing industry. In view of the amendment, the Fund is now known as Export Development and Agricultural Investment Fund (EDAIF).
Specific activities for which monies from the Fund may be applied in respect of the Agricultural component include the:
Development and promotion of agriculture, relating to agro-processing and agro-processing industry;
Provision of credit, refinancing and credit guarantee through designated financial institutions to persons in the agriculture and agro-processing sectors of the economy;
Appraisals and studies necessary to determine areas of the agriculture and agro-processing sectors that need intervention; and
Monitoring and evaluation of the interventions.
Act 823 establishes a technical implementation Committee of the Board known as the Agro-processing Development and Credit Committee. The Act also introduces the Agriculture and Agro-processing Development and Credit Account.
2.0 THE AGRICULTURE AND AGRO-PROCESSING DEVELOPMENT AND CREDIT ACCOUNT
The Agriculture and Agro-processing Development and Credit Account (the “Agric. Facility”) is one of three accounts of the Fund as stipulated in the amended Act, for which the Board of EDAIF is responsible.
The following processes and procedures serve as a guide for managers of the Fund and as a source of information to persons, groups or organizations interested in accessing the Agriculture and Agro-Processing Development and Credit Facility of the Fund.
For operational purposes the Agriculture and Agro-Processing Development and Credit Account of the Fund is divided into two components:
1. Agriculture and Agro-Processing Development Facility ( Grant Facility)
2. Agriculture and Agro-Processing Credit Facility.
2.1 AGRICULTURE AND AGRO-PROCESSING DEVELOPMENT FACILITY.
The Agriculture and Agro-Processing Development Facility (i.e. the “Agriculture Grant Facility”) supports activities of persons, groups and institutions in the development and promotion of agriculture and agro-processing products, and provision of services to the agriculture and agro-processing sector.
Activities financed under the Agriculture Grant Facility include:
Product development and promotion;
Capacity building and research;
Development of infrastructure and common user facilities for agriculture relating to agro-processing and agro processing industry;
Development and promotion of other agricultural and agro-processing entrepreneurial activities; and
Agriculture and agri-business trade oriented activities of both public and private institutions.
Eligible applicants under this facility are:
i. Public and private sector stakeholders in the agriculture and agro-processing sector.
ii.Limited liability companies may in appropriate cases be considered if:
a. Funds required are to be utilized for minor infrastructural works (subject to financial limit);
b. Works to be undertaken would enhance the beneficiary’s agriculture or agro-processing activities; and
c. Projects funded under the grant facility will benefit the general public.
iii. Applications from Associations or Cooperatives must be endorsed by MOFA Agriculture Extension Services or Ministry of Trade and Industry (NBSSI).
iv. Other entities to be determined by the Board.
2.1.2 How Does One Apply?
By submission of the following to the Fund;
i. A completed application form.
ii.Technical and financial proposal and a comprehensive business plan and M&E plan (result framework).
Application forms can be obtained from;
EDAIF web site, www.edaifgh.org
EDAIF Secretariat in Accra.
EDAIF office in Tamale
MOTI and MOFA offices across the Regions
2.1.3 Preparation, Appraisal and Approval Process
i. Applications received shall undergo due diligence during pre-appraisal, appraisal and post-appraisal processes.
ii. Applications received shall be checked against a checklist and acknowledged within two (2) working days from date of receipt;
iii.Upon receipt of an application, and provided application meets basic due diligence, EDAIF Project Officers shall visit and appraise the project and within seven (7) working days:
a. Submit a report to Management for review; and
b. Inform applicants who do not qualify.
iv. Management’s recommendation would be submitted to the Board Committee on Agriculture and Agro-processing Development for consideration, then to the Board within twenty-one (21) days of the date of receipt of application.
v. The Board’s decision shall be communicated to the applicant within three (3) days of the decision.
vi. Approvals under the grant for a particular project shall generally not exceed the cedi equivalent of US$100,000.
vii.The EDAIF Board reserves the right to exceed the US$100,000 limit if in the Board’s assessment, the required funding for a particular project exceeds the stated limit of US$100,000.
viii. The Board’s decision shall be communicated to the applicant in writing by Management within five working days of the date of the Board decision.
ix. Beneficiaries shall be required to write formally to the Fund indicating their acceptance of the offer and any attached conditions.
Download the complete: Agric Facility Guidelines