The United Nations Capital Development Fund (UNCDF), in partnership with the Government of Sierra Leone, development partners, and private sector actors, is implementing the Salone Access to Finance Project, a $13.6 million flagship initiative funded by the European Union through the EU Jobs and Growth Programme,

Running from 2023 to 2028, the project leverages UNCDF’s concessional finance instruments to expand access to finance for agri-MSMEs, strengthen the agriculture sector, and support inclusive economic and job creation. It is aligned with the Government of Sierra Leone's Medium Term National Development Plan, and national BIG FIVE CHANGERS.

The project is structured around four pillars:

Pillar 1: Unlocking investment for agri-MSME growth  

UNCDF has launched a $6.8 million matching grant facility designed to crowd in private sector capital from financial service providers and extend credit to more than 400 agri-MSMEs.

Through the facility, UNCDF co-invests alongside banks and microfinance institutions. Businesses receive a combination of grant support from UNCDF and loans from financial institutions, helping reduce the risk of the investment and lower the financial barriers many agri-businesses face when trying to access capital.

The facility will also strengthen the capacity of financial institutions to serve the agricultural sector and provide MSMEs with pre- and post-investment support.

Pillar 2: Protecting farmers with Sierra Leone’s first weather index insurance 

UNCDF is piloting Sierra Leone’s first weather index insurance product to help protect over 4,000 agri-businesses and farming communities from climate shocks.

The insurance is designed to support farmers when extreme weather events, such as droughts or heavy rainfall, affect agricultural production and incomes. Alongside the pilot, UNCDF is also working with farming communities to raise awareness and improve understanding of insurance products, helping farmers build greater resilience to climate-related risks.

Pillar 3: Enabling financial services for farming communities through digital solutions 

Through the initiatives under the project, UNCDF is rolling out digital financial services designed for the agricultural sector to help underserved farming communities access financial services more easily.

Through digital tools and technology-enabled services, farmers and agri-businesses can better access payments, banking, and other financial services, including in remote rural areas.

Pillar 4: Strengthening regulatory frameworks for agri-insurance and agri-financing 

UNCDF is supporting the development of policies and guidelines for agricultural insurance and agricultural financing in Sierra Leone.

The project brings together government institutions, regulators, and private sector actors to help build a stronger and more inclusive financial system for the agricultural sector. These efforts aim to improve access to finance for farmers and agri-businesses while helping the sector better respond to climate and market risks.