Standard Chartered soft commodity loan to boost Asia-Africa trade

Export Trading Group receives a $120 million structured loan for trade in Asia and Africa from Standard Chartered and the IFC.

Standard Chartered soft commodity loan to boost Asia-Africa trade
Kenyan maize growers will benefit from Standard Chartered's structured trade loan. (Source: AFP)

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...

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