Olam Smallholder Crop Financing (IFC-40675)

Regions
  • World
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
B
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
Jun 6, 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
OLAM INTERNATIONAL LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
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)
$ 120.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 3, 2018

Disclosed by Bank May 3, 2018


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Project Description

The proposed transaction is an agricultural supply chain financing to Olam International to promote inclusive and sustainable agricultural value chains in SSA, East Asia, and the Pacific. With the proposed financing IFC will support Olam’s efforts to create markets for smallholder farmers in IDA countries, most of whom are unbanked or disconnected from financial systems.

 

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Olam International is a leading agri-business operating across the value chain in 66 countries, supplying various products across 18 platforms to more than 22,000 customers worldwide. Headquartered in Singapore and listed on the SGX-ST on February 11, 2005, Olam currently ranks among the top 30 largest primary listed companies in Singapore in terms of market capitalization. It differentiates itself by focusing on niche commodities and businesses, buying from growers and village-level agents at the farm gate, and providing value-added solutions and services to customers (e.g., traceability guarantees).

Olam is listed on Singapore Stock Exchange, and Temasek Holdings, the Singapore sovereign wealth fund (53.6%) and Mitsubishi Corporation (Japan) (17.4%) are the main shareholders. Olam’s management team has a 6.5% ownership in the company.

Contact Information

Mr. Jayant S. Parade

President & Global Head – Treasury & IR Group Treasurer

Olam International Limited 7 Straits View,

Marina One East Tower #20-01; Singapore 018936

Tel: +65 6339 4100; Fax: +65 6339 9217 E-mail: jayant@olamnet.com

 

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/