The syndicated facility of $90 million 2.5-year working capital loan will allow ETG to have sufficient liquidity to continue its operations, maintain employment and continue its support to farmers across Africa. A considerable share of ACF's sourcing is from Least-Developed Countries.
Agri Commodities and Finance ("ACF") is the main trading company of ETC Group ("ETG"), a large and diversified agricultural commodity trader and supply chain manager with most of its footprint in Africa. ETC Group became an FMO client in 2019. Since its establishment in 1967 in Kenya, ETG has emerged to become the largest independent agricultural commodity supply chain manager in Africa. The Group owns and manages a vertically integrated agricultural supply chain with operations spanning procurement, processing, warehousing, distribution and merchandising.
*Project contacts not available at the time of disclosure.*
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ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism