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Kenya to tap planned Sh27bn farm produce support project
Banks regularly issue trade facilities to facilitate domestic and international trade by managing risks such as non-payment, currency fluctuations, and political instability while bridging cash flow gaps.
The International Finance Corporation (IFC) proposes to invest up to Sh5.16 billion ($40 million) in planned two risk-sharing facilities with Standard Chartered to support the purchase, storage, and sales of agricultural commodities and fertilisers in Kenya and several other sub-Saharan African countries.
The proposed project involves two risk-sharing facilities with Standard Chartered Bank for two trade finance facilities of up to Sh26.99billion ($230 million) to support the sub-Saharan Africa (SSA) operations of ETC Group, a diversified agricultural commodity trader and supply chain manager.
