GWFP Agri Trade TOI Moldova (IFC-49709)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Moldova
  • Romania
  • Switzerland
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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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."
Voting Date
Jul 15, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
TOI Commodities SA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 30.00 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.
Loan Amount (USD)
$ 30.00 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)
$ 260.00 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.
Bank Documents
Media Documents
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 9, 2025

Disclosed by Bank May 20, 2025

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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’s website, the proposed investment is a funded participation by IFC for up to US$30 million in a secured revolving syndicated borrowing base trade finance facility for TOI Commodities SA, Switzerland to finance TOI’s pre-export working capital needs in Moldova and Romania. The Project is for up to three (3) years with annual cleanup and commitment, which will be processed under IFC’s Global Warehouse Finance Program with the delegated authority from IFC’s Board of Directors.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

IFC’s proposed loan amount will be up to US$30 M for its own account as a lender in the syndicated Facility to support the Group’s export related trade operations across Moldova and Romania. The total Project cost is around US$260M.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the IFC, Aragvi Holding International Limited, a holding company domiciled in Cyprus owns 100% in TOI.  
Headquartered in Romania, the Group first entered the Moldovan market in 1998, initially as a commodity trader. Over the years, the Group has grown substantially through acquisitions and investments.

As stated by the FMO, Trans-Oil Group (TOG, or Aragvi Holding International Limited) is a leading vertically integrated agribusiness group located across Moldova, Ukraine, Romania, and Serbia, offering services such as grain handling, storage, and trading, farming, and oilseed crushing. The company owns a unique distribution and export network in Moldova with extension to the Black Sea region and upstream to the Danube basin. More than 80% of the sales of the Company are exported via large international traders to EU, Middle East and North Africa (MENA) region and Turkey.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Trans-Oil Group of Companies (Aragvi Holding International Limited) Parent Company Agriculture and Forestry owns TOI Commodities SA Client Agriculture and Forestry

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - TOI Commodities SA:

Daniel Ruiz - Head of Global Funding and Business Development Solutions
Phone: +41 22 593 57 95 
Email: d.ruiz@transoilcorp.ch
Address: 1218 Le Grand-Saconnex - Switzerland
Website: www.transoilcorp.com

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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