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Eligible Operations

The eligible operations include: start-ups, scale-ups, modernization, productivity improvement, production capacity improvement, transfer of ownership and restructurings. 

These operations must be carried out by SMEs as defined by the financial service industry in a given country, and operating in the following sectors among others: agriculture, agro industry, small and medium scale mining, oil and related services, manufacturing, building and construction, energy, telecommunications, transport, tourism, and trade. 

AGF shall not guarantee transactions in the following sectors:

AGF will not guarantee any activity, production, use, distribution, business or trade listed in the Harmonized European Development Finance Institution (EDFI) Exclusion List, provided below.

1. Forced labour or child labour

2. Activities or materials deemed illegal under host country laws or regulations or international conventions and agreements, or subject to international phase-outs or bans, such as:

  • Ozone depleting substances, PCBs (Polychlorinated Biphenyls) and other specific, hazardous pharmaceuticals, pesticides/herbicides or chemicals
  • Wildlife or products regulated under the Convention on International Trade in Endangered Species or Wild Fauna and Flora (CITES)
  • Unsustainable fishing methods (e.g. blast fishing and drift net fishing in the marine environment using nets in excess of 2.5 km in length)
3. Cross-border trade in waste and waste products, unless compliant to the Basel Convention and the underlying regulations
4. Destruction of High Conservation Value areas
5. Radioactive materials and unbounded asbestos fibres

6. Pornography and/or prostitution.

7. Racist and/or anti-democratic media.

8. In the event that any of these following products form a substantial part of a project’s primary financed business activities:
  • Alcohol beverages (except beer and wine);
  • Tobacco;
  • Weapons and munitions; or
  • Gambling, casinos and equivalent enterprises
All of the projects in which AGF invests must adhere to local and international environmental, social and health and safety standards. 


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