April 29 (Reuters) - The World Bank Group's private-sector arm, the International Finance Corporation (IFC), and Standard Chartered on Wednesday announced a new risk-sharing facility aimed at strengthening supply chains and supporting business growth across Africa.
Here are the details:
o The facility will cover up to $300 million in supply chain and trade finance assets originated by Standard Chartered in the region, ensuring faster payments to suppliers, the partners said.
o The programme will roll out supply chain finance solutions in eight markets - Côte d'Ivoire, Egypt, Ghana, Kenya, Nigeria, South Africa, Tanzania and Zambia - targeting key sectors including agriculture, healthcare and manufacturing.
o Under the arrangement, IFC will provide guarantees of up to $150 million to support transactions in U.S. dollars and selected local currencies.
o Over the next three years, the partnership is expected to enable around $1.9 billion in supply chain finance transactions, supporting more than 500 suppliers.
o In December 2024, IFC and HSBC launched a $1 billion risk-sharing trade finance programme covering emerging markets across Africa, Asia, Latin America and the Middle East.
(Reporting by Rajasik Mukherjee; Editing by Shailesh Kuber)
