TDB has provided a loan of $100 million in favour of Agri Commodities and Finance FZ-LLC (ACF), a 100% UAE subsidiary of ETC Group (ETG). ETG is a key player in the global agriculture market, with a presence across the supply chain, from agri inputs to agronomy services, distribution, and value addition through processing.
Anish Jain, ETG’s Chief Treasury Officer, stated: "We are extremely grateful for the trade finance facility extended by TDB. This loan will help enhance agricultural value chains and livelihoods of approximately 285,000 smallholder farmers in the African region and work towards building a sustainable future. ETG remains focused on uplifting farming communities by connecting smallholder farmers with international markets, expanding mechanization and processing capabilities, and increasing knowledge around quality inputs, irrigation, post-harvest techniques and yield-enhancing practices. The Bank’ support will allow ETG to strengthen and expand its operations across the agricultural value chain and will support access to critical fertilizers and food supplies across Africa."
Michael Awori, TDB CEO, said: “TDB is very pleased to extend this facility to ETG. Through our longstanding relationship, we are contributing to supporting food security in the region, building on sustainable and responsible practices, as well as sustaining income and market access for smallholder farmers. With over 50% of employment in Sub-Saharan Africa being in agriculture, TDB is a strong supporter of the sector. Currently, almost 20% of our portfolio allocated is agriculture.”
ETG has developed into a global player with a diverse portfolio of expertise across various industries, encompassing agricultural inputs, logistics, infrastructure, food processing and supply chain optimization. The group has a global presence of 48 countries spanning six continents. For more information, please visit www.etgworld.com or send a mail to moc.dlrowgte@ofni
Agri Commodities and Finance FZ-LLC (ACF) is incorporated in Ras Al Khaimah, United Arab Emirates. It is a wholly owned subsidiary of ETC Group Mauritius(100%). It primarily deals in trading of commodities like Rice, Cashew nuts, Cocoa, Nuts, Sesame Seeds, Soyabeans, Pulses including Fertilizer and agro chemicals. ACF acts a central treasury for the Group. Prime role of ACF is to act as a main central Treasury entity for the group.
Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is a multilateral, treaty-based, investment-grade development finance institution, with 44 sovereign and institutional shareholders and assets of USD 8bn. TDB serves 23 economies in its region, with the mandate to finance and foster trade, regional economic integration, and sustainable development.
TDB is a part of TDB Group, which also comprises the Trade and Development Fund (TDF), Eastern and Southern African Trade Advisors Limited (ESATAL), TDB Captive Insurance Company (TCI) and the TDB Academy.