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ECOM: a loan to support the coffee and cocoa sectors in 12 African and Latin American countries
Project
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Signature date
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Location
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Multi-country Global, Guatemala, Mexico, Nicaragua, Cameroon, Côte d'Ivoire, Ethiopia, Ghana, Kenya, Nigeria, Uganda, Rwanda, Tanzania
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Financing tool
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Financing amount (Euro)
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41830502
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Financing details
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USD 50m loan
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Customer
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ECOM AGROINDUSTRIAL CORPORATION LIMITED
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Type of customer
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Company
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Country of headquarters
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Switzerland
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Project number
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PZZ1541
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Environmental and social ranking
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A
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has allocated a USD 50m loan to ECOM Group, a player specialized in coffee, cocoa and cotton, to finance its agricultural and logistical investments and support the jobs of thousands of smallholders.
Client presentation
ECOM is a processing and trading company specialized in the coffee, cocoa and cotton markets. ECOM operates in over 30 countries and its economic model is based on offering close support to its farmer suppliers (technical assistance, supplying inputs, financing).
Project description
Proparco has allocated a USD 50m long-term loan to ECOM. The project will finance agricultural and logistical investments, as well as working capital requirements in the Group’s coffee and cocoa segments in the following countries: Cameroon, Côte d'Ivoire, Ethiopia, Ghana, Guatemala, Kenya, Mexico, Nicaragua, Nigeria, Rwanda, Tanzania and Uganda.
Project impact
On the social front, the project should support some 40,000 jobs over the next 5 years, mainly for village smallholders. On the economic front, this financing will strengthen the Group’s liquidity during a difficult economic context caused by the Covid-19 crisis. By financing ECOM, Proparco is contributing to the sustainability of the Group’s economic model and all the direct and indirect jobs created by its activity.
The project will thereby contribute to SDG 8 “Decent work and economic growth” and SDG 12 “Sustainable consumption and production”.