GWFP ETG 2021

active

 The proposed project involves the second renewal of the existing two funded risk sharing facility with Standard Chartered Bank (the “Bank” or “SCB”) for two trade finance facilities of up to US$234 million to support ETC Group (“ETG”) agri commodity trader’s export of cash and food grains, storage, and import of fertilizers in Sub-Saharan Africa. IFC’s investment amount will be up to US$40 million. The Project will support the purchase, storage and sales of agri commodities and fertilizers in SSA countries such as Malawi, Benin, Kenya, Tanzania, etc. Commodities financed by the project are bought from mostly smallholder farmers in SSA and sold to wholesalers, cooperatives, NGOs and governments in various IDA countries and into the international market.