{"id":2001,"date":"2024-11-11T19:04:54","date_gmt":"2024-11-11T19:04:54","guid":{"rendered":"https:\/\/zimdailyjournal.co.zw\/?p=2001"},"modified":"2024-11-14T07:54:48","modified_gmt":"2024-11-14T07:54:48","slug":"proparco-stanbic-bank-zimbabwe-support-access-to-long-term-financing-for-farmers-via-a-euriz-facility","status":"publish","type":"post","link":"https:\/\/zimdailyjournal.co.zw\/index.php\/2024\/11\/11\/proparco-stanbic-bank-zimbabwe-support-access-to-long-term-financing-for-farmers-via-a-euriz-facility\/","title":{"rendered":"Proparco, Stanbic Bank Zimbabwe support access to long-term financing for farmers via a EURIZ facility"},"content":{"rendered":"<p>Proparco is providing Stanbic Bank Zimbabwe with a EUR 5 million EURIZ facility to support its ability to offer long-term finance to local farmers operating in the Zimbabwean agricultural sector.<!--more--><\/p>\n<p>The signing ceremony was held in Harare on 29 October 2024, in the presence of representatives from Proparco, Stanbic Bank Zimbabwe, the French Embassy, and the EU Delegation to Zimbabwe.<\/p>\n<p>In Zimbabwe, access to finance, and in particular term finance, is a major constraint for local farmers.<\/p>\n<p>The EUR 5 million EURIZ facility from Proparco to Stanbic Zimbabwe benefits from European Union financial support and is contributing to the Team Europe Initiative on Greener and Climate Smart Agriculture.<\/p>\n<p>It will share the risk associated with financing small and medium-sized enterprises (SMEs) operating in the agriculture<\/p>\n<p>sector, thus increasing the bank&amp;#39;s ability to finance the economy.<\/p>\n<p>\u201cThis operation demonstrates the priority accorded by Proparco to supporting the private sector in developing countries, particularly in high-impact sectors like agriculture.<\/p>\n<p>Proparco is pleased to be able to count on a key partner like Stanbic Bank Zimbabwe for the implementation of such important initiatives\u201d said Steven Gardon, Regional Director of Proparco for Southern Africa.<\/p>\n<p>\u201cZimbabwe is our home, and we are committed to driving its growth by creating sustainable opportunities for our people.<\/p>\n<p>This facility represents a significant milestone for our institution and the farmers we serve.<\/p>\n<p>By empowering these farmers, we are not only investing in their individual futures but also contributing to the broader economic growth of our country.<\/p>\n<p>Partnerships like these enable us to deepen our impact, transforming lives and communities while fostering economic resilience.<\/p>\n<p>We are grateful to Proparco for this facility, and we look forward to further collaboration as we work together to build a more prosperous Zimbabwe\u201d, said Solomon Nyanhongo, Chief Executive Officer of Stanbic Bank Zimbabwe.<\/p>\n<p>This operation is part of the Food &amp;amp; Agriculture Resilience Mission (FARM) initiative, launched in 2022 by Emmanuel Macron, President of the French Republic, alongside the European Union, the G7, and the African Union.<\/p>\n<p>Its aim is to strengthen food security in the most vulnerable countries.<\/p>\n<p>This initiative is also part of the Choose Africa program led by the AFD Group (Agence fran\u00e7aise de development, Proparco, and Expertise France), which supports African start-ups, micro-businesses, and MSMEs by financing and supporting them at different stages of their growth, thanks in particular to local partners supported by the Group.<\/p>\n<p>This project is foreseen to contribute towards three SDGs: No Poverty (1), Zero Hunger (2), and Decent Work and Economic Growth (8).<\/p>\n<p>Read more stories @ <a href=\"https:\/\/zimdailyjournal.co.zw\/\">Zimdaily Journal<\/a><\/p>\n<p>Also Visit us on our Facebook Page @ <a href=\"https:\/\/www.facebook.com\/ZimDailyJournal\">ZimDailyJournal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Proparco is providing Stanbic Bank Zimbabwe with a EUR 5 million EURIZ facility to support its ability to offer long-term finance to local farmers operating in the Zimbabwean agricultural sector.<\/p>\n","protected":false},"author":2,"featured_media":2002,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[207,208],"class_list":["post-2001","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news-zimbabwe","tag-proparco","tag-stanbic-bank-zimbabwe"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Proparco Stanbic Bank Zimbabwe<\/title>\n<meta name=\"description\" content=\"Proparco, Stanbic Bank Zimbabwe supports access to long-term financing for farmers via a EURIZ facility with a EUR 5 million EURIZ facility\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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