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EBRD grants Olam International Limited $200m loan to strengthen agribusiness - Daily News Egypt

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EBRD grants Olam International Limited $200m loan to strengthen agribusiness

Bank grants finance to strengthen agribusiness value chain, trade across Eastern Mediterranean, Eastern Europe, and Black Sea regions


The European Bank for Reconstruction and Development (EBRD) has granted a $200m loan to Olam International Limited.

The finance package will be used by the international agricultural commodities trading company to strengthen the agribusiness value chain and trade in five economies across the Eastern Mediterranean, the Eastern Europe, and the Black Sea regions.

The EBRD loan will finance purchases of agricultural commodities such as hazelnuts, dry dairy products, grain, and onions in selected countries of operation. Local subsidiaries of the company will take on the processing, storage and distribution of these goods.

The European Union and the TaiwanBusiness-EBRD Technical Cooperation Fund will provide donor support for the development of new methodologies and processes for climate-related risk management and stress testing in Egypt and Turkey.

Olam International is a food and agribusiness company supplying food, ingredients, feed and fibre to over 25,000 customers in more than 60 countries worldwide. Headquartered in Singapore, the company is listed on the Singapore stock exchange, and is 53.4% owned by Temasek Holdings and 17.4% by Mitsubishi Corporation.

To date, the EBRD has invested close to €13bn in over 740 agribusiness projects, of which 99% are in the private sector. The bank aims to enhance agribusiness value chains and promote economic transition across the regions where it invests, by fostering strong links with the private sector, governments and other development partners.

 

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https://dailyfeed.dailynewsegypt.com/2020/08/18/ebrd-grants-olam-international-limited-200m-loan-to-strengthen-agribusiness/
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