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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-proces ....
SunFunder has fully closed its oversubscribed $70m Solar Energy Transformation (SET) Fund, a blended finance vehicle focused on distributed solar and storage investments in Africa and Asia. The SET Fund has received investments from OeEB, Swedfund, Bank of America, Mercy Investment Services, The Schmidt Family Foundation and several individual investors, including from the Toniic impact investor network. They followed $42.5m first close investors - the US Development Finance Corporation (DFC), Calvert Impact Capital, Ceniarth and the IKEA Foundation. DFC is also a risk tool partner of the SET Fund, alongside Sida and MFX Solutions. SunFunder’s financing to expand access to clean, reliable energy to those living beyond the grid is having life-changing impacts for families across Africa. Not only does it create environmental and health benefits, but families are able to redirect energy savings to food, education and health care,” said Sarah Smith, director of M ....