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AGF was officially launched on June 2nd, 2012, in Arusha, Tanzania, by Dr. Donald Kaberuka, the President of the African Development Bank (AfDB), which together with the governments of Denmark (through Danida) and Spain (through aecid), are the founding shareholders. AGF’s key mandate is to assist financial institutions increase their financing to African Small and Medium Sized Enterprises (SMEs) through the provision of partial financial guarantees and capacity development assistance.