IFC, a member of the World Bank Group, and Absa Group Limited, a South African-based bank, will provide an up to US$60m commodity trade finance facility to Volcafe, a leading global green coffee merchant, to strengthen the company’s operations in East Africa, supporting tens of thousands of coffee farmers in the region.
The financing will provide working capital to facilitate the purchase of coffee cherries – the fruit from which coffee beans are extracted – from smallholder farmers and local traders, as well as the processing, storage, and transport of coffee to export ports.
