Banks agree $1.13bn trade finance for Ghana’s cocoa exports
Six banks have come together to sign this week a pre-export receivables backed trade finance facility of $1.13bn for Ghana Cocoa Board. The six banks are: Cooperatieve Rabobank, Industrial and Commercial Bank of China, MUFG Bank, Natikis, Standard Chartered Bank and Ghana International Bank. This facility will support Ghana Cocoa Board’s financing needs for the 2022/ 2023 cocoa crop and other cocoa-related operations. This is the 30th year that Ghana Cocoa Board has been supported by a massive pre-export trade finance package. The facility is a structured performance risk loan, and as such the lenders of the facility continue not to require a sovereign guarantee.
All news and features older than 7 days are subscription only. This article is from the archive. Archived articles could only be accessed with the subscription. If you are a subscriber please log in, alternatively you need to purchase a subscription to view the full content for this page.
Posted on Oct 5, 2022 Region: Ghana
receivables finance pre-export receivables, pre-export finance, trade finance, Ghana Cocoa Board, Rabobank, ICBC, Natikis, SCB, Ghana International Bank
