Abu Dhabi: The OPEC Fund for International Development (the OPEC Fund) has signed a US$40 million loan as part of a US$394 million sustainability-linked loan for ETC Group (ETG), one of Africa's largest agricultural commodity supply chain managers. The financing will enhance ETG's working capital, strengthen food systems, and support the livelihoods of more than 600,000 smallholder farmers across sub-Saharan Africa. According to Emirates News Agency, this is the OPEC Fund's first sustainability-linked loan, a financing tool that ties lending terms to meeting environmental, social, and governance (ESG) targets. The loan incentivizes ETG to improve farmer livelihoods, reduce environmental impacts, and enhance food security. Abdulhamid Alkhalifa, OPEC Fund President, stated that the sustainability-linked loan represents the OPEC Fund's commitment to sustainable development through innovative financing. The longstanding partnership with ETG is aimed at addressing food security, strengthening agricultural value chains, and improving the livelihoods of smallholder farmers in sub-Saharan Africa. This collaboration underscores the OPEC Fund's dedication to embedding sustainability in its private sector operations.
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