OeEB, EIB launch US$119m private sector financing initiative for businesses affected by COVID-19

AFRICA – The Development Bank of Austria (OeEB) and the European Investment Bank (EIB) have launched a new EUR100 million (US$119.38m) private sector financing initiative for entrepreneurs and businesses most impacted by economic, health and social challenges triggered by COVID-19. The programme will enhance access to long-term financing across sub-Saharan Africa, help to create thousands of jobs and accelerate sustainable development and poverty reduction. The first joint business financing supported by the two institutions will provide both direct loans to companies in Africa and financing managed by local banks. “This…

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Interact Climate Change Facility secures US$60m from FMO, OeEB and Swedfund

AFRICA – FMO, OeEB and Swedfund have agreed to invest €50 million (US$60.38m) to the Interact Climate Change Facility (ICCF), a co-financing facility providing financing to climate-related investments in emerging markets. FMO, a Dutch development bank, will commit €20 million (US$24.15m) while OeEB, the Development Bank of Austria, will provide €15 million (US$18.11m) and Swedfund, a Sweden’s Development Finance Institution, will commit €15 milion (US$18.11m). ICCF offers co-financing for its funders for senior loans, mezzanine debt and guarantees with a maximum tenor of 18 years. The funding capacity of ICCF…

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ACF secures US$115m funding led by FMO to expand its operations in Africa

AFRICA – Agri Commodities and Finance (ACF), a trading companies of Export Trading Group (ETG), has secured US$115 million syndicated loan facility from FMO, FinDev Canada, and OeEB to improve and expand its operations in Africa. FMO acted as lead arranger in this syndicated facility that will indirectly support an estimated 600,000 smallholder farmers and the communities, while also contributing to more sustainable and climate-resilient agricultural practices across the continent. The syndicated loan facility will allow ETG to strengthen and expand its operations across the agricultural value chain. Improved processing…

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