Browsing: World Bank Group member

IFC launched US$2 Billion Global Bond to support private investment in developing countries www.theexchange.africa

IFC, a World Bank Group member, issued a brand-new US dollar global benchmark bond, generating US$2 billion to stimulate private investment in emerging and developing nations.

The deal received considerable support, and the ultimate transaction book was closed at more than US$4.9 billion by over 100 investors.

  • IFC, a World Bank Group member, issued a brand-new US dollar global benchmark bond, generating US$2 billion to stimulate private investment in emerging and developing nations
  • The new three-year benchmark is priced with a spread of SOFR MS+25 basis points, equivalent to +12.5 basis points over the three-year US Treasury note.
  • The new standard pays a semi-annual coupon of 3.625 per cent

 

“Investors’ enthusiasm is a testament to IFC’s financial strength and position as the top development financing organisation focusing mostly on the private sector in developing countries,” IFC Vice President and Treasurer, Treasury & Mobilization John Gandolfo stated.

“The bond’s proceeds

Just months after receiving a major financing boost from the IFC, Twiga Foods has again signed an agreement with the World Bank Group member to boost the company’s food safety practices.

Twiga Foods, a Kenyan-based technology food distribution platform, is improving its food safety practices in line with global standards. It also seeks to ensure the traceability of produce from the farm to consumers.

The introduction will also help with food safety and quality management in Kenya while creating food quality assurance jobs in Kenya.

The initiative marks a rare move to apply global quality certification to food products destined for the domestic, rather than the export market. Kenya fruits and vegetables exporters focus on markets outside the country especially the EU and now others are seeking how to import from China to Kenya especially for equipment to help with processing their produce.

Twiga Foods uses mobile phone technology to …