FMO, FinDev Canada and OeEB support critical food supply in Africa through a working capital loan to ETG
Summary
The syndicated facility will indirectly support an estimated 600,000 smallholder farmers and the communities where they live and work, while also contributing to more sustainable and climate-resilient agricultural practices across the continent.ETG was established in 1967 as an independent African-based commodity trader. We are proud to have arranged this facility along with our fellow DFIs.The growth of ETG has been impressive and its contributions to the transformation of African agriculture equally so, said Paulo Martelli, Chief Investment Officer of FinDev Canada. With this financing we can support agricultural supply chains which contributes to food and job security for populations in need.Anish Jain, ETGs Chief Treasury Officer, said: We are fortunate to have likeminded partners such as FMO, FinDev and OeEB that are as passionate about Africa and its people. In addition, this working capital loan will support access to critical food supplies across Africa.DFIs such as FMO, FinDev Canada and OeEB are committed to remaining open for business to serve target regions during the COVID-19 pandemic. For more information, please visit https://www.oe-eb.at/ETG has developed into a global player with a diverse portfolio of expertise across various industries, encompassing agricultural inputs, logistics, merchandising, food processing and supply chain optimization.