MULTINATIONAL - Subscription to ETG Sustainability Linked Loan

Up to USD 65 million participation in the Sustainability Linked Loan (“SLL”) Facility of the ETC Group Limited (“ETG” or the “Group”), Mauritius for its core value chain financing: to support its integrated value chain and strengthen the small holder farmers ecosystem in Africa. ETG is raising up to USD 550 million to finance its core value chain under the two tranches –Development Finance Institutions (“DFI”) term tranche and commercial revolving credit facility. ETG is currently reaching 4 million smallholder farmers active in 48 countries worldwide, trading in excess of 80 commodities. The Group is purchasing crops from farmers as close to farmgate as feasible, aggregating and transporting to port warehouses and selling cargo to end-buyer across the world, after processing and value addition. At the same time, ETG purchases and imports fertilizers and agro-inputs from across the world for distribution to dealers and farmers in Africa. The Group’s value chain backed up by its own hub-and-spoke logistics network requires funding to be renewed every season, permanent in nature. The Bank’s financing will be deployed to ETG’s core value chains in Africa (including Benin, Ghana, Ivory Coast, Senegal, Nigeria, Burkina Faso, Ethiopia, Kenya, Tanzania, Uganda, Malawi, Mozambique, Zimbabwe, Zambia) to support the processing and packaging facilities, warehouses and depots and provide fertilizers and agri-inputs under the DFI term tranche. There is a possibility that the Bank’s financing will be deployed beyond the countries abovementioned up to 28 countries in Africa based on the emerging needs. The project contributes to climate finance, with 37.5 million USD of the total approved amount dedicated to mitigation.