Original disclosure @ IFC website
Updated in EWS Feb 6, 2023
Disclosed by Bank Feb 9, 2022
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According to the Bank’s website, the proposed investment is a US$20m IFC unfunded participation under a Risk Sharing Facility (“RSF”) in an up to US$60m uncommitted transaction secured revolving trade finance Facility for 3-years with annual renewals with Banque Internationale de Commerce-BRED (Suisse) SA (“BIC-BRED”) for Agro Companies International. The RSF will finance Agro Companies’ grain trading working capital needs, mainly (i) floating cargoes secured by the bills of lading (“BLs”), (ii) storage in warehouse at destination with Stock and Monitoring Agreement (“SMA”), and (iii) receivables on African buyers mainly covered by prime credit insurers. It will be processed under the Global Warehouse Finance Program (“GWFP”) with delegated authority from the Board.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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Agro Companies International
Deputy CEO and Chief Financial Officer
86, Rue du Rhône, 1204 Genève, Suisse
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