Rising Asia-Africa trade flows have received their latest boost with a $120 million structured syndicated trading loan to agricultural commodity dealer Export Trading Group by Standard Chartered Bank and partially guaranteed by the International Finance Corporation IFC.
Tanzania-based Export Trading, one of the largest agricultural supply chain companies in Africa, will use the funds to finance trade in soft commodities, including maize and soybeans. 80% will be used for flows within Africa and 20% for trade with China and India. Jean Craven, head of corporate finance at the company, said the percentage of funds used for trade with Asia will increase over time.
Standard Chartered is the mandated lead arranger of the...
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