AIC will streamline operations and operate initially with only core staff. Activities which do not relate directly to the Corporation’s core functions will be divested or transferred to other agencies. Business facilitation services will initially be delivered through three divisions:

• Project Development
• Joint Venture
• Industry Development
  

Project Development Division

This division will be charged with the responsibility for planning, organising, directing and monitoring activities aimed at promoting, creating, developing and supporting viable and sustainable agricultural and agribusiness industries.

The development of bankable business plans will be facilitated by the division in a bid to assist small to medium sized type investors in accessing requisite funds.

At present a director and three (3) officers provide business facilitation services by `walking’ the potential investor through all stages of the investment process leading up to the implementation of the projects.

The division receives enquiries, provides investment advice, business counselling, technical and marketing support services and prepares business plans and proposals for submission to the appropriate institutions to access grant, loan or venture capital funding.

Each Investment Officer will complete fifteen (15) business plans/project proposals annually in addition to other activities. Loans facilitation will also be a function of the division.

In order to fulfil AIC’s role in lending funds for agricultural ventures, the division will:-

• Screen prospective clients to determine their eligibility for loan funding, collect required documentation.
• Review Project Proposals & Business Plans & recommend disbursement of loans where appropriate.
• Provide on-going monitoring of a portfolio of loan accounts for loan agreement compliance and assessment of overall credit risk in the portfolio.

Joint Venture Division

The Division is responsible for planning, organizing, directing and monitoring activities aimed at evaluating and promoting joint venture agribusiness opportunities.

These joint venture activities will enable optimal utilization of government owned agricultural assets, facilitate the preparation of memoranda of understanding between the parties and develop bankable project documents for viable joint venture projects.

The ADC now owns and manages the Amity Hall farm, St. Catherine; Minard, St. Ann; and New River farms, St. Elizabeth, as well as the Agricultural Marketing Corporation (AMC), which incorporates the Agricultural Export Complex at Spanish Town Road.

These properties are operated on a commercial basis, but have not achieved full potential in terms of production, productivity and income generation. Joint ventures are one means of leveraging underutilized resources while still retaining ownership of the asset. The Joint Venture Division is staffed by a director, who will:

• Conduct or facilitate audits of all ADC assets to determine the potential to form the Corporation’s contribution to a joint venture. The overall objective will be to maximize the use and earning potential of these assets
• Develops and periodically update joint venture policies and procedures in keeping with applicable government laws and regulations and the terms of funding agency contracts where applicable.
• Conduct feasibility studies and develop business plans for the viable joint ventures
• Aggressively market the joint venture investment opportunities both locally and overseas
• Facilitate the access to funding where necessary
• Monitor implementation of the joint venture projects.
  

Industry Development Division

There will be two (2) Industry Development Officers and it is projected that four (4) plans will be developed per annum. Additional Support will be given from one (1) assigned Project Manager and a Sociologist.

Through their on the ground involvement, in the operation of specified implemented projects within the targeted sub sectors, it is anticipated that there will be a stimulation of growth and an improved structural approach of doing business.

Industry Development Officers will develop the plans, liaise with the other divisions to identify funding, and coordinate implementation of the plans.

The approach proposed is one involving an assessment of the industry through consultation with stakeholders and development of a holistic plan for the total development of the industry.

Based on competitiveness studies and national strategic importance there is an urgent need for further development of the following industries:

• Ornamental Fish
• Ornamental Horticulture
• Hot pepper
• Honey
• Pineapple (and Other Fruits)
• Small Ruminants (Sheep& Goats)
• Cassava
• Sorghum
• Sweet potato
• Rice
• Cattle

Structure of Agro-Investment Corporation

Figure 1 below illustrates the proposed long term structure of AIC. As was indicated before, the Corporation will not be operating a full staff compliment, but will operate on a lean structure of core staff, thereby reducing operating expense and increasing the speed of decision making and flexibility, which are crucial in facilitating agricultural investments.