The West Africa Trade and Investment Hub Activity (The Trade Hub) of the United States Agency for International Development (USAID) is accepting Expressions of Interest (EOIs) from eligible applicants to fund the COVID-19 Rapid Response in Nigeria.
The purpose of the Trade Hub activity is to promote and expand employment, trade, and investment opportunities both within the West Africa sub-region and international markets. This Annual Program Statement (APS) focuses specifically on advancing the purpose in Nigeria within the context of Covid-19.
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About The Trade Hub
The USAID-funded Trade Hub activity is a five-year trade and investment facilitation intervention that seeks to improve private sector productivity, profitability, and competitiveness in West Africa. By co-investing with the private sector and other organisations through its grant fund; the Trade Hub will encourage additional private sector investment and growth in strategic sectors. This include but not limited to: agriculture, services, water/sanitation, clean renewable energy, and light manufacturing.
Basically, a current priority of the Trade Hub is supporting West African small and medium-sized enterprises (SMEs) who are vulnerable to the coronavirus pandemic (Covid-19); a public health crisis projected to have the largest economic impact since the Great Depression.
Through its co-investment grant facility, the Trade Hub will co-invest a total of $14.4M with the private sector to support projects that mitigate the financial and economic impacts of the pandemic. Such projects will provide companies in Nigeria, including SMEs, access to funding opportunities that help them stabilize their business and ensure continued growth during and after the pandemic.
Who Can Apply For The COVID-19 Rapid Response In Nigeria?
The Trade Hub will accept Expressions of Interest (EOIs) from the private sector through a rapid review process. Hence, if you submit an EOI that are deemed practical for further development/negotiation, you will be invited to co-create a full application with the Trade Hub team for a co-investment project that may lead to a grant award valued between $250,000 to $1,000,000.
Also, you must demonstrate financial commitment towards your project at a minimum 1:1 ratio (with higher leverage ratios preferred) of the funding requested from the Trade Hub. The Trade Hub may allow these co-investments to be timed later in the grant period after markets and trade recover from crisis.
Focus Area OF The COVID-19 Rapid Response In Nigeria
Co-investment projects in Nigeria are restricted to the following seven states and five value chains:
States: Benue, Cross-River, Delta, Ebonyi, Kaduna, Kebbi, Niger
Value Chain: Aquaculture, Cowpea, Maize, Rice, Soybean
The Trade Hub is interested in co-investing in the following areas in the above states and value chains:
- Input Production and Supply
- Financial Institutions and Advisors (FI&A)
- Farming & Food Production
- Extension and Advisory Services
- Aggregation and Value Addition
- Improved Post-Harvest Handling & Storage
- Market Access & Marketing
- Digital Solutions & Precision Agriculture
- Food Distribution & Transportation
The deadline for application is 31 March 2021. Are you interested in the Covid-19 Rapid Response grant in Nigeria? Submit an Expression of Interest (EOI) electronically to the Trade Hub using the form available at https://smart.fluxx.io/apply/watihcovid.
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