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Ecobank Malawi Secures A $10 Million Trade Finance Guarantee To Boost The Country's Food Security

Proparco has just signed a $10 million Trade Finance Guarantee with Ecobank Malawi. The Guarantee will enable the bank to secure confirmation lines on Letters of Credit for importation of strategic commodities such as fertilizers, basic foodstuffs and strategic raw materials. It will thus help to facilitate the development of Trade relations between Malawian importers and international exporters – a crucial enabler for Malawi's economic growth!
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IFC and Proparco join forces to strengthen food supplies in several African countries

IFC and Proparco today signed a risk-sharing agreement covering a package of trade finance operations worth a joint USD 200 million. As part of this deal, Proparco will now participate up to 50% in certain GTFP (Guaranteed Trade Finance Program) exposures of IFC, on the African continent. The first phase of this operation is aimed in particular at strengthening food security in a number of countries in Africa. In a second phase, Proparco and IFC will extend their joint action to other regions of the continent. The initiative could ultimately mobilize 500 million dollars.
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Tiryaki Helps Bolster Food Security, Diversify the Economy in Iraq with support from IFC, FMO and Proparco

IFC, FMO and Proparco are supporting Sama Al-Manar, a subsidiary of Türkiye-based Tiryaki Agro, in developing a new state-of-the-art agro-industrial complex in Iraq's Umm Qasr Port, including a soybean crushing plant and warehouses, which will help bolster food security, create jobs, and diversify the country’s economy away from fossil fuels.
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COP28: Ecobank Transnational Incorporated signs its 1st Sustainability-Linked Loan for US$200m with a syndicate of EDFIs led by Proparco

ecobank proparco deg fmo norfund edfis climate finance cop28
A syndicate of European Development Finance Institutions (EDFIs) led by Proparco, and including Norfund, DEG, FMO and EFP, has announced a US$200 million Sustainability-Linked Loan to support Ecobank Group’s Sustainability and Climate strategy. This is a significant milestone as it is the first ever sustainability-linked loan to a sub-Saharan African financial institution. The facility is linked to two major climate commitments including Climate Disclosures and the definition of a Climate Strategy.

The facility also includes a Climate Action Plan. Proparco, in partnership with the German consulting firm IPC, will provide long-term advisory support to Ecobank Transnational Incorporated’s teams to achieve these ambitious targets.
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