MICROCAPITAL BRIEF: IFAD Lends Soafiary $3.6m to Boost Direct Sourcing from Smallholder Farmers in Madagascar

The UN’s International Fund for Agricultural Development (IFAD) recently extended a loan of EUR 3.5 million (USD 3.6 million) to Soafiary, an agribusiness in Madagascar, to support the firm’s effort to “grow sustainably and reorient [its] business model, by increasing from 30 to 70 percent its direct sourcing from small-scale farmers,” potentially increasing grower incomes by