FMO, FinDev Canada, and OeEB have announced a $115m syndicated loan facility that will allow Agri Commodities and Finance (ACF), one of the main trading companies of Export Trading Group (ETG) to improve and expand its operations in Africa.
FMO acted as lead arranger in this syndicated facility that will indirectly support an estimated 600,000 smallholder farmers and the communities, while also contributing to more sustainable and climate-resilient agricultural practices across the continent.
Pieternel Boogard, Director Agribusiness, Food, and Water of FMO, said: “We are very pleased to strengthen our commitment towards ETG's mission and empower small holder farmers across Africa for a brighter future. ETG's impact and success contribute to a stronger African agricultural sector, which will reduce poverty of smallholder farmers in Africa and improve their overall wellbeing through ETG’s sustainable and climate-smart programmes focused on agriculture and agro-processing. We are proud to have arranged this facility along with our fellow DFIs.”