According to bank provided information, the proposed investment is an A loan of up to US$10 million to ETC Group (“ETG” or the “Company”) incorporated in Mauritius. ETG is a vertically integrated agricultural supply chain manager involved in the origination, procurement, warehousing, logistics of multiple agricultural commodities and processing of consumer products. It is active in over 26 African countries, as well as in India, China and South East Asia and has additional trading, merchandising and/or treasury desks in Europe, the Americas and the Middle East.
The investment will support ETG’s long term incremental working capital needs mainly in Sub Saharan Africa which will be complemented by an advisory services program to enhance the productivity and efficiency of ETG’s supply chains (“the Project”).
A comprehensive Advisory Services engagement is being developed to enhance the efficiency of ETG's sesame, maize and soybean supply chains by improving the productivity and reducing post-harvest losses of 200,000 smallholder farmers in Mozambique, Tanzania and Zambia by December 2023. The project will mainly focus on enhancing the productivity and efficiency in ETG operations and supply chains. Moreover, smallholder farmers will increase their income by following good agricultural practices; reducing post-harvest losses; having improved access to inputs; and through a guaranteed market for farmer produce.
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