WCSS Agricover

completed

Agricover Credit IFN S.A. ("IFN" or the "Company") is the only Romanian financial institution specialized in financing the agricultural sector. The Company is part of the Agricover Group (“AG” or the “Group”), an integrated agricultural group and one of the largest agri traders in the country whose main operations include: (i) grain sourcing, trading and logistics services; (ii) distribution of agricultural inputs to farmers; (iii) provision of financing to farmers; (iv) fuel distribution to agriculture; and (v) trading of meat and livestock. As the financing arm of AG, IFN offers both short term working capital financing and medium term investment loans to farmers active in the vegetal sector, animal breeding, milk production, and processing industry, among others. The proposed project consists of an investment of up to RON70mn in the form of a 1-year, senior loan under IFC’s Working Capital Solutions (“WCS”) product to IFN to support the agriculture sector in Romania. The WCS loan is renewable up to two times at IFC’s option for two additional 1-year periods, for a maximum aggregate facility life of up to 3-years. The WCS loan will be disbursed in local currency to support the Company’s short term loans to small and medium enterprise (“SME”) farmers.