The funding of projects under the Agricultural and Fisheries Development Fund (AFDF) is one of the key instruments the fund relies on to achieve its objectives. As a government institution with a financing mandate, the AFDF primarily aims to conserve, manage and efficiently utilise natural agricultural, livestock and fisheries resources to ensure their sustainability. To fulfill this role, the fund must establish a structured mechanism for financing projects submitted by applicants while adhering to clear criteria for approving or rejecting funding requests.
The AFDF represents a pioneering model in financing development and research projects, benefitting from government funding and support based on quality and performance standards. With administrative and financial independence, the fund has successfully implemented projects that have gained the satisfaction of its partners, including both implementers and beneficiaries.
The financial resources supporting the AFDF's activities come from various sources, primarily government allocations, which constitute 1 per cent of the total national gross domestic product (GDP) of the agricultural and fisheries sectors. This government support serves as the fund's primary financial source. Additional funding sources include contributions from companies, institutions and individuals operating in these sectors, as well as revenue from intellectual property rights generated through research, studies and projects financed by the fund. Moreover, the AFDF benefits from returns on its financial contributions to funded projects and accepts donations and grants from entities and companies, subject to approval by the fund’s board of directors.
Funding applications for projects are submitted to the AFDF by various entities and are reviewed by specialised committees within the fund. The applications may be approved, rejected, or recommended for deferment based on a set of well-defined criteria. Key considerations include:
• Contribution to food security and increasing local added value, with priority given to projects that significantly enhance the GDP contribution.
• Incorporation of innovative and sustainable approaches.
• Job creation for citizens and benefits for many small-scale investors and producers.
• Generation of direct revenue.
• Long-term sustainability beyond the funding period.
Since its inception, the AFDF has financed projects across five key sectors: fisheries, plant agriculture, livestock, water resources, and food safety and quality.
The fund continues to seek diversification in its financial resources, enhance staff capabilities and mitigate environmental and climate-related risks affecting the sectors it supports due to their biological nature. To this end, the AFDF remains committed to improving its operations, monitoring and evaluation mechanisms. Moving forward, the fund sees promising opportunities in focusing on projects that strengthen food security, stimulate investment in job-creating initiatives and support innovation that fosters sustainable development.
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