GTST Ethiopia Trade Facility

completed

IFC, BNP Paribas (“BNPP”) and other commercial lenders are jointly considering establishing a trade finance facility of up to US$ 400 million to finance importation of refined oil products in Ethiopia. The facility will provide an international energy trading company with an import finance facility to maintain the supply of oil products in Ethiopia over a period of up to two years. This facility will help secure fuel supply to the second most populated country in Sub-Saharan Africa and one of the fastest growing economies in Africa. A steady supply of fuel through reliable channels is critical to ensure a better pricing, and therefore control inflation. Of the total facility amount, IFC’s exposure will be up to US$ 75 million through a risk sharing arrangement.