IFC Invests in ETC Group to Support Local Farmers in Africa

                             

  MEDIA ADVISORY                                                           

Subject:  IFC Invests in ETC Group to Support Local Farmers in Africa
Event:  Signing of Loan Agreement 
Date: Wednesday 12 June 2013
Time:  11:30 a.m.
Venue: World Bank Offices, Dar es Salaam


Dear Colleagues in the Media

You are invited to a press conference to mark the signing of a loan agreement between IFC, a member of the World Bank Group and ETC Group, a leading agricultural supply chain manager.  Based in Mauritius, ETC Group has food processing and trading operations in sub Saharan Africa (including Tanzania), the Middle East and Asia.  IFC is providing ETC Group with a loan of $70 million, which the Group will use to expand operations in Africa, building new processing plants and commodity warehouses.  

IFC and ETC Group will work together to help the company source more products from local smallholder farmers. In turn, the farmers will receive crop finance from ETC Group and gain access to the Group’s regional and global markets. 

Agribusiness is a priority for IFC, which aims to reach 1 million smallholder farmers in Africa by 2018.  


Contact:  

Loy Nabeta +255 687 014 425
Rosalie Ferrao + 255 784 411 130