Ethiopia coffee gets $15 m working capital loans

The IFC, financing arm of the World Bank announced this month (August 2014) that it will offer Ethiopian coffee farmers US$15 million in loans via its development bank, NiB Bank.
Its aimed at enabling more farmers to afford the process of converting their “cherry” coffee into roasted beans.
Overall it should increase the quantity of beans sent to metropoles like Tokyo and New York from the country which birthed the global trade.
“The project consists of a 3-year Risk Sharing Facility (RSF) for a portfolio of up to ETB 300M
(approx. US$15.2M) working capital loans to
coffee farmer cooperatives, originated and
serviced by NIB Bank in cooperation with
Technoserve (TNS).”
The loan will enable the
farmer cooperatives to buy “cherry” coffee to
process into “washed” coffee.
The IFC will assume up to a maximum US$9M, the remainder would be
covered by Nib Bank,” stated the IFC in its posting this week.+

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