Celebrating 35 Years of Impactful Partnerships in Emerging Markets
This year Rabo Partnerships proudly celebrated 35 years of forging important partnerships in emerging markets. Since the day of its inception, Rabo Partnerships continues to be a catalyst for change by scaling solutions that strengthen food and financial systems across the globe. It is with great pride that we share our latest Impact Report 2024-2025.
This edition of the impact report brings you not only our highlights and achievements from last year, but also continues to share insightful videos showcasing our work with partners. Watch our partners talk about the work they do in their countries as well as how we collaborate together.

Rabo Partnerships:
Improving access to financial services for the Food & Agriculture sector and the rural population
We offer solutions to Financial Institutions (FI’s) in emerging markets to support them in their efforts to provide financial services to the underserved food & agriculture sector and to rural communities. Solutions include growth capital through Equity Investments, Advisory Services & Venture Building and Blended Finance. We strive to offer a synergetic combination of these solutions, aiming to create a more enabling financial ecosystem for the FI and its borrowers.

Our Key Partner Data
We work with many institutions throughout the world to drive impact in food and financial systems. Our main partners are financial institutions (FI’s) in emerging markets. The data reflect our activities related to these partnerships and the total outreach of our financial institution partners in the Food & Agricultural sector. Please note these are all non-audited figures.
Number of FI and other partners
0
partners:
Number of countries we are active in
0
countries:
Number of customers with a bank account at one of our FI partners (estimation)
0
million:
Number of farmers reached through our partners (estimation)
0
million*:
Total loans of FI partners for the agricultural sector
€0
billion:
* of which 7.5 million are smallholder farmers.
Advisory, Venture Building and Smallholder Ecosystems
Rabo Partnerships offers Advisory Services and Venture Building solutions to support financial institution and other players in the agricultural value chains in emerging markets. Our longstanding relationships with our partner banks bring long-lasting impact.
To reach farmers, digital tools are key. That's why our Venture Building teams are developing data driven solutions that enable partner banks to reduce costs and risks of serving farmers, such as digital marketplaces, credit scoring models, loan monitoring platforms based on remote sensing and marketing tools. We are supporting Coopbank Ethiopia in the development and implementation of the required digital tools to serve another 3 million farmers in the next 3 years. Read all about the bank’s future ambitions and how we are supporting them on their (digital) journey.
Furthermore, our Advisory team executed a research project last year in assignment for- and with funding from Gates Foundation on how to unlock agricultural finance at scale. At the moment they are embarking on a follow-up assignment that marks a pivotal shift from research to implementation.
In addition, the Advisory team works together with IFAD on a two-year initiative to see how DFIs and National Development Banks can close the financing gap for primary producers in Asia and Latin America. The Inclusive Financial Ecosystem for Food Systems Transformation (IFE-FST) program empowers DFIs and National Development Banks to drive inclusive rural finance.

Rabo consultants active in assignments
Annual Future Leadership participants
Smallholder farmers reached through our partners (estimation)
Investments
Rabo Partnerships is an equity investor in multiple (non-banking) financial institutions in LATAM, Sub-Saharan Africa and India. We are a patient capital provider that supports its investees with a focus on impact and return. We have diversified our exposure by adding tech-driven NBFIs that are aligned strategically with a focus on scalable impact through digital solutions. Read all about our equity investment in Kaleidofin last year.

Total investment portfolio in emerging markets
Rabo Partnerships' portfolio of (in)direct FI's and fintech investees
Amount invested in 2024 in new investee (Kaleidofin)
Blended Finance
Rabo Partnerships develops scalable impact finance solutions that allow commercial banks, whether Rabobank or our partner banks, to move beyond business as usual by blending public and private capital. For example, the AGRI3 fund is a blended finance vehicle set up to mobilize capital at scale to support sustainable agriculture and combat deforestation. The impact stories of Usina Cerradao and Terra Viva show how collaboration between commercial banks and impact funds can unlock capital to support companies in emerging markets in their sustainable transition journey.

Capital mobilized through blended solutions creating E&S impact (accumulated until YE 2024)
Natural ecosystems under management for protection (accumulated until YE2024)
Agricultural area brought under sustainable management (accumulated until YE2024)
Impact stories
Discover in four impact stories, how Rabo Partnerships contributes to innovations and developments in finance for its partner financial institution in emerging markets, with a strong focus on the Food & Agricultural sector, furthering the transition of Food systems and access to finance for smallholders and the rural population in general.

"Unite to Unlock": A Historic Gathering of Our Global Partners
Rabo Partnerships 35 Years Anniversary Event
The "Unite to Unlock" event, celebrating the 35th Anniversary of Rabo Partnerships (RP), took place on April 7-8, 2025, at Innstyle in Maarssen, Netherlands. For the first time we have brought together all our partners across the globe. From representatives of (non-banking) financial institutions to (non) governmental organizations and corporates. The event provided a perfect opportunity to celebrate, connect, and explore new potential in the field of agricultural and inclusive finance in emerging markets.
Partner Testimonials
In these videos, our partners explain what they do and how they contribute to financial inclusion and sustainable agriculture.

Creating Impact through Collaboration: The Future of Blended Finance in Food Systems
– an interview by the Global Donor Platform for Rural Development
Featuring Agnes Johan, Head of Blended Finance at Rabo Partnerships
With less Official Development Assistance (ODA) available for emerging markets, we need smart, targeted solutions to strengthen food systems. One powerful approach is public–private collaboration. While Development Financial Institutions can fund large-scale projects, agriculture also needs smaller loans - especially for farmers. Blended Finance vehicles are stepping in, often partnering with commercial banks to reach all actors in the agricultural value chains. To truly make an impact, we must align our efforts and speak the same language.
Disclaimer
The impact report does not carry any right of publication or disclosure other than to Rabo Partnerships BV, registered in Utrecht. Neither this document nor any of its contents may be distributed, reproduced, or used for any other purpose without the prior written consent of Rabo Partnerships. The information in this impact report reflects prevailing market conditions and our judgement as of this date, all of which may be subject to change. This impact report is based on internal data, public information and information as received from our partner financial institutions. The information and opinions contained in this document have been compiled or derived from sources believed to be reliable; however, Rabo Partnerships does not guarantee the correctness or completeness of this document and does not accept any liability in this respect. The information and opinions contained in this report are indicative and for discussion purposes only. No rights may be derived from any potential offers, transactions, commercial ideas, etcetera contained in this report. This report does not constitute an offer, invitation, or recommendation. This document shall not form the basis of, or cannot be relied upon in connection with, any contract or commitment whatsoever. The information in this report is not intended, and may not be understood, as an advice (including, without limitation, an advice within the meaning of article 1:1 and article 4:23 of the Dutch Financial Supervision Act). This report is governed by Dutch law. The competent court in Amsterdam, the Netherlands has exclusive jurisdiction to settle any dispute which may arise out of, or in connection with, this report and/or any discussions or negotiations based on it. This report has been published in line with Rabo Partnerships long-term commitment to international food and agribusiness.
