Ethiopian Sugar Corporation export credit facility

Overview:

• Ethiopian Sugar Corporation has taken out export credit financing worth over $200 million from a number of Israeli banks.
• Bank Hapoalim, Israel Discount Bank and Bank Mizrahi-Tefahot acted as lenders.
• The financing is fully guaranteed by the Ethiopian government.
• The financing is to be used to fund a new sugarcane irrigation system covering 7000 hectares to be developed by Netafim.

Sam Duke - Editor