CSAF 2025 State of the Sector
The Council on Smallholder Agricultural Finance (CSAF) is an alliance of impact investing institutions, also referred to as impact-first agricultural lenders, investing in agricultural businesses that generate positive social and environmental impact in low- and middle-income countries. CSAF members convene on a pre-competitive basis to exchange learning, identify best practices, and develop industry standards across three areas: market growth, responsible lending principles, and building a stronger ecosystem for a more inclusive and sustainable agri-SME finance sector.
CSAF’s 2025 State of the Sector report shares market insights drawing upon quantitative and qualitative input from 18 financial institutions and provides a deeper analysis of trends in lending activity. In 2024, CSAF members issued loans totaling $799 million to 611 businesses across 55 countries. Lenders met high demand for financing driven by record-high commodity prices, while also supporting new borrowers at smaller ticket sizes. Lenders are helping borrowers adapt to the many risks facing the sector and looking towards how to navigate the uncertain global context for agricultural development that lies ahead. Dive deeper by downloading the Executive Summary and full report.