Barak Trade Finance Facility (IFC-39481)

Regions
  • Middle East and North Africa
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 7, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
BARAK FUND MANAGEMENT LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 120.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 11, 2018

Disclosed by Bank Feb 2, 2018


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Project Description

The proposed project consists of a senior revolving loan to an SPV managed by Barak Fund Management Ltd to provide trade and commodity finance to enterprises operating in Africa. The loan proceeds would invest alongside Barak's short-term African trade and commodity funds; the Project will focus primarily on supporting small and medium enterprises in the agricultural sector, although other sectors, such as consumer goods, will also be financed.

Investment Description
  • International Finance Corporation (IFC)

The total Project cost is approximately US$120 million, consisting of US$60 million in equity or junior capital provided by a Junior Investor and US$60 million in senior debt provided by IFC.

Private Actors

Barak was established in 2009 by its two co-founders and part owners, Jean Craven and Prieur Du Plessis, and operates funds specializing in structured trade finance, commodity-backed transactions and other asset-backed projects across 30 African countries.  Additionally, an impact investment fund based in the United States will be the equity or junior investor in the Project.

Contact Information

Barak Fund Management Ltd
Lisa Majmin
Fund Strategist
+27 (11) 071 9124
lisa.majmin@barakfund.com

www.barakfund.com

 

ACCOUNTABILITY MECHANISM OF IFC

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