According to bank documents, the proposed project involves the second renewal of the existing syndicated funded risk sharing facility with Standard Chartered Bank for a trade finance facility of US$250 million to support ETC Group agri commodity trader’s import of fertilizers in Sub-Saharan Africa (SSA) and export of cash and food grains, storage. IFC’s investment amount will be up to US$10 million. The Project will support the import, storage and sales of fertilizers in SSA countries such as Benin, Kenya, Tanzania, Mozambique, Ivory Coast, and export of agri commodities. Commodities financed by the project are bought from mostly smallholder farmers in SSA and sold to wholesalers, cooperatives, NGOs and governments in various IDA countries and into the international market. This project is linked to GWFP ETG SCB III https://disclosures.ifc.org/#/projectDetail/SII/42889
Total project cost will be up to US$250 million with IFC’s investment of up to US$10 million in the form of a funded participation.
Standard Chartered Bank
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