Ethiopia: IFC helps fund products import

The World Bank’s International Finance Corporation (IFC) is participating with up to $150m in a $450m trade finance facility arranged by Natixis to finance the import of refined petroleum products. Under the agreement signed on 15 July, IFC, Natixis, Standard Bank and other lenders will help finance Independent Petroleum Group (IPG)’s import of petroleum products into Ethiopia over one year. The Kuwaiti company maintains a strong relationship with the state Ethiopia Petroleum Supplier Enterprise, as one of the main suppliers of petroleum products to the country for the last four years.