JICA Commits to Aavishkaar Fund for Impact Investment in Africa and Asia
Yokohama: The Japan International Cooperation Agency (JICA) has announced its commitment to the Aavishkaar Fund, managed by the Aavishkaar Group, a leading impact investment group in India. The fund aims to foster impact investing in emerging Africa and Asia, supporting small and medium-sized enterprises (SMEs) with significant social and environmental impact.
Supporting Global Supply Chain Development
JICA’s investment in the Aavishkaar Fund will help the group expand into emerging markets in Africa and Asia, contributing to the development of the wider Indian Ocean region and the global supply chain. The fund will provide credits to private corporates operating in various international business supply chains, including agriculture, food processing, and manufacturing.
Promoting ESG Integration and Sustainable Growth
The investment aims to promote ESG integration in the global supply chain between emerging markets and developed economies. It also aligns with Japan’s global development agenda, including the “Japan-India Cooperation Initiative for Sustainable Economic Development in Africa” and the “IDEA” initiative, which aims to support sustainable growth in Africa through public-private collaboration.
Mikio Hataeda, JICA’s Senior Vice President, said, “We are honoured to invest in the Aavishkaar Fund, with which JICA has a long-standing relationship.”
Vineet Chandra Rai, Founder and Chairman of Aavishkaar Group, stated, “We are honoured to welcome JICA’s strategic investment in our Global Supply Chain Support Fund targeting the global south.”
