Original disclosure @ ADB website
Updated in EWS Jan 30, 2023
Disclosed by Bank Dec 13, 2022
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ADB proposes to provide a loan facility of up to $80 million to Olam Global Agri Private Limited and Olam Global Agri Treasury Private Limited. The loan will be guaranteed by the ultimate holding company Olam Group Limited. The use of loan proceeds will be earmarked for working capital in Bangladesh, India, Indonesia, Nepal, Pakistan and Viet Nam. The facility will have a maturity of 3 years.
In January 2020, Olam announced a re-organisation Plan to split the company into three distinct and coherent operating groups that are Purpose-led and future-ready in order to maximise Olam’s long-term value on a sustained basis.
ofi offers sustainable, natural, value-added food products and ingredients so that consumers can enjoy the healthy and indulgent products they love.
Olam Agri is a market leading agri-business, focused on high-growth consumption markets with deep understanding of market needs, a global origination, trading and marketing footprint, with best-in-class logistics, processing and risk management capabilities. It transforms food, feed, and fibre to create value for its customers, enable farming communities to prosper sustainably and strive for a more food secure future. Operating at the heart of global food and agri-trade flows, it has leading market positions across grains and oilseeds, animal feed and proteins, edible oils, rice, specialty grains and seeds, cotton, wood products, rubber and commodity financial services.
The remaining Businesses of Olam Group comprises:
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Olam Group||Parent Company||-|
Private Sector Operations Department
Project contact details not available at the time of disclosure.
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The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.