Olam WC Loan (IFC-46759)

  • World
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 5,000.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 20, 2022

Disclosed by Bank Jun 23, 2022

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank website:

The proposed IFC investment is to support Olam Agri (or the “Company”) in purchasing of wheat, maize and soy in sourcing origins for delivery to Olam Agri’s processing operations and other customers in West Africa, South and South-East Asia, and Middle East and North Africa. Wheat, maize and soy will be sourced from Canada, Germany, Latvia, Lithuania, and the USA – all origins having consolidated agricultural areas.

The proposed financing package is of up to US$200 million one-year corporate loan with an option to renew annually two times. This investment is part of the World Bank Group US$5 billion Global Food Security and Nutrition Crisis Program, including US$1 billion response by IFC. Olam Agri do not have any logistic facilities in the sourcing origins, while there are no expansion of existing Olam Agri’s processing operations in destination countries being envisioned by this proposed investment

Olam Agri is a fully owned subsidiary of Olam Group, a leading food and agri-business supplying food, ingredients, feed and fibre worldwide with a value chain spanning over 60 countries, which includes farming, processing and distribution operations, as well as a global network of farmers. Olam Agri has a global origination of grains & oilseeds, animal feed & protein, rice, edible oils, specialty grains & seeds, cotton, wood products, rubber. Olam Agri is at the heart of global food and agri-trade flows with more than 40 million MT in volume traded annually.  

This would be IFC’s fourth investment in Olam since 2013, following a corporate loan investment of $US120 million which was approved in 2013 and repaid in 2015 (https://disclosures.ifc.org/project-detail/ESRS/31566/olam-corp-loan), a second corporate loan investment of $120 million approved in 2016 and repaid in 2021 (https://disclosures.ifc.org/project-detail/ESRS/34841/olam-ii-wc-loan), a third corporate loan investment of $120 million approved in 2020 (https://disclosures.ifc.org/project-detail/ESRS/40675/olam-smallholder-crop-financing) for procurement of crop (e.g. cashew, cocoa, coffee, cotton and spices) primarily grown by smallholder farmers in IDA countries (Papua New Guinea, Uganda, Vietnam, Indonesia). Olam’s environmental and social (E&S) performance against IFC’s Performance Standards requirements and implementation of E&S Action Plan (ESAP) has been satisfactory                                                   

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Olam International Ltd Client Agriculture and Forestry

Contact Information
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