The African Development Bank Group (AfDB) President, Donald Kaberuka, announced today, at the AfDB Annual General Meetings, the official launch of the African Guarantee Fund (AGF), a market-friendly guarantee scheme designed to ease access to finance for African Small and Medium Enterprises (SMEs). The AGF, designed and funded by the AfDB in partnership with the governments of Denmark and Spain, will provide financial guarantees to financial institutions to stimulate financing to SMEs and unlock their potential to deliver inclusive growth in the region. The AGF is a truly public-private partnership, with other donors, development finance institutions and private investors expected to join to provide additional capital and scale up its operations.
