FAO launches RuralInvest toolkit in Egypt to Support Small and Medium Agricultural Projects
Cairo, Egypt - The Food and Agriculture organization of the United Nations (FAO), launched today Rural Investment Methodology in Egypt during a sensitization meeting, which was held today under the framework of the Technical Cooperation Project "Promoting Sustainable Investment in Egypt’s Food Security", funded by FAO. Representatives from Ministry of Agriculture and Land Reclamation (MALR), and from a number of Investment, financial and academic institutions attended the workshop.
RuralInvest is a “toolkit” to help prepare and evaluate small- and medium-size agricultural and rural investment projects. The RuralInvest toolkit comprises a tried-and-tested methodology, user manuals, online and in-country training and the RuralInvest computer software program. RuralInvest addresses questions about investments yields and results, sustainability of investment, and the priorities of local communities.
“Investment in food security, nutrition, agriculture and rural development is one of the most effective ways to stimulate economic growth, improve rural livelihoods and reduce poverty.
This meeting aims at presenting the RuralInvest toolkit developed by FAO, including online access to the software, and exploring interest of participating institutions to use RuralInvest in their extension/ business advisory/ lending and investment activities, in view of planning RuralInvest training of trainer (TOT),” said Mr. Hussein Gadain, FAO Representative in Egypt, in his opening speech.
RuralInvest toolkit is participatory, interactive, bottom-up and decentralized way, involving communities, entrepreneurs, government field technicians, project staff and local financing institutions. Developed by FAO with the support of national and international development partners, RuralInvest contributes to FAO's Strategic Objective to enable inclusive and efficient agricultural food systems.
“MALR considers that improving living standards in rural areas is a core objective, which can be achieved through policies and action programs, such as expanding agro-processing and marketing activities, expanding the agricultural activities, planning new agricultural expansion zones for integrated industrial agricultural service communities, support and development of small rural crafts and industries, as well as promoting women role,” said Mr. Hesham Allam, Supervisor of Foreign Agriculture Relations, MALR, and the NPC of the project.
Who can use it?
The RuralInvest toolkit can be used by groups, organizations or individuals wishing to prepare an investment proposal or mobilize resources. In fact, 34 countries have used RuralInvest, 564 people have been trained, and 1286 investment projects have used the toolkit.
“RuralInvest is unlike other investment tools, which are typically designed for multimillion dollar projects or focus on one specific sector (e.g. agro-industry). RuralInvest supports all types of small or medium-scale rural investment projects, as well as multiple projects and comparative analysis between projects,” Said Marc Fantinet, Senior Investment Support Officer, Investment Centre Division (TCI), FAO
What types of investment are supported?
RuralInvest can be used for two major types of investment:
- Income-generating projects in agriculture, livestock, fisheries, fish farming, forestry, agro-industries, tourism, transport services, handicraft manufacturing, retail stores, wholesale services, storage services, etc.
- Non-income-generating projects (or social projects) to improve living standards in rural areas, including health centers, schools, environmental protection, roads, drinking water supply, etc.
RuralInvest, is typically used for small- and medium-scale projects in the order of USD 5 000 to USD 500 000, depending on the complexity of the project design.
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