The World Bank Group’s private-sector arm, the International Finance Corporation (IFC), and Standard Chartered this Wednesday announced a new risk-sharing facility aimed at strengthening supply chains and supporting business growth across Africa.
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.
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.
Under the arrangement, IFC will provide guarantees of up to $150 million to support transactions in United States Dollars and selected local currencies.
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.
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.
–Reuters–
