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According to the Bank’s website, this project is proposed under IFC’s Global Trade Supplier Finance program (“GTSF”) approved by the IFC Board on September 21, 2010 (Original Project #28723) and an additional increase approved on December 15, 2022. Under GTSF, IFC provides short-term financing to suppliers in emerging markets selling to large companies on open account terms. Under this project, IFC would purchase, at a discount, US$ denominated Principal Approved Payables/invoices owed by Nestrade S.A. to its suppliers in several emerging markets via CRX Markets AG (“CRX”), a leading global supply chain finance platform.
The proposed investment is a senior, unsecured, funded, uncommitted, revolving, short-term, GTSF facility that will provide early payment to Nestrade’s coffee suppliers in emerging markets such as Brazil, Colombia, Kenya, and Ethiopia.
This is a Category B project according to IFC's Policy on Environmental and Social Sustainability (2012) due to appropriately managed E&S risks and impacts associated with coffee sourcing from Nestrade’s suppliers based on its PS-compliant supply chain management system. Key E&S aspects for this project are related to the implementation effectiveness of Nestrade’s: (i) E&S Management System (including Supply Chain), including PS2 and PS6 related supply chain risks; (ii) stakeholder engagement and community grievance mechanism in coffee producing/sourcing areas.
IFC's Investment as Approved by the Board:
Loan 500.0 million (USD)
Guarantee 500.0 million (USD)
Nestrade, a subsidiary of Nestlé S.A, provides procurement services on behalf of its affiliates worldwide.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | Nestle SA | Parent Company | - |
- | - | - | - | Nestrade S.A. | Client | - |
Nestrade S.A.
Frederic Lelieur
Frederic.Lelieur@nestle.com
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