Project detail - AGRIF COOPERATIEF U.A


Status: Approved investment
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The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

agRIF is the successor fund of Rural Impulse Fund I and Rural Impulse Fund II, all of which make investments in financial inclusion for the rural sector. agRIF takes this model one step further by specifically targeting the agricultural sector and smallholder farmers, as well as rural micro-entrepreneurs. In addition to the equity investments targeted by the fund, agRIF provides debt investments in agricultural SMEs and agricultural focused financial intermediaries. agRIF is managed by Incofin Investment Management.

What is our funding objective?

agRIF seeks to address the scarcity of financial services in developing countries. The objective of agRIF is to generate an attractive return of 15-17% to investors, and enhance financial inclusion in the agricultural value chain, with a focus on smallholder farmers and rural (M)SMEs. The Fund will be making senior debt and equity investments in financial intermediaries (MFIs, banks, NBFIs) with a strong commitment to serving agricultural and rural markets, as well as debt investments directly into producer organizations and SMEs in the agriculture value chain.

Why do we fund this investment?

agRIF will create a much needed source of capital to smallholders and SMEs active in the agri-space, a target group that is otherwise hard to reach directly for FMO.

What is the Environmental and Social categorization rationale?

The environmental and social category for agRIF is B, as most of the investments will be made in microfinance and financial institutions. The fund has an extensive E&S policy in place, developed in line with the requirements of several DFI investors. The fund manager is a founding signatory of the Smart Campaign, has endorsed the Client Protection Principles and incorporates those in its social performance evaluation and monitoring. IIM is also a signatory of the Principles for Investors in Inclusive Finance (PIIF) developed under the UN PRI.

Website customer/investment
Financial Institutions
Effective date
Total FMO financing
USD 10.00 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)