51039 - GWFP AgroComp II

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Summary of Investment Information

Project Number

51039

Company Name

AGRO COMPANIES INTERNATIONAL SA

Date SPI Disclosed

Nov 21, 2025

Country

Africa Region

Region

Africa

Projected Board Date

Dec 22, 2025

Environmental Category

FI-2 - Limited

Status

Pending Disbursement

Last Updated Date

Mar 2, 2026

Department

Regional Industry - MAS Africa

Industry

other

Previous Events

Approved : Sep 21, 2010
Signed : Feb 26, 2026

Sector

Grains, Soy and Pulses

Project Description

The proposed investment is a US$20m IFC unfunded participation under a Risk Sharing Facility (“RSF”) in an up to US$60m uncommitted transactional secured revolving trade finance Facility for 3-years with annual renewals with Banque Internationale de Commerce -BRED (Suisse) SA (“BIC-BRED” or “the Bank”) for Agro Companies International (“Agro Companies” or the “Group”).

The RSF will finance Agro Companies’ grain trading working capital needs, mainly (i) cargoes on water with secured bills of lading (“BLs”), (ii) storage in warehouse at destination with Stock Monitoring Agreement (“SMA”), and (iii) receivables on African buyers mainly covered by prime insurers. It will be processed under the Global Warehouse Finance Program (“GWFP”) with delegated authority from the Board.

Associated Advisory Engagement

IFC’s non-financial additionality hinges around supporting Agro Companies operations to strengthen implementation of IFC Performance Standards to align the Company’s operations with best international practices.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee	50.0
Loan	150.0
Equity

Development Impact

The Project is expected to: (i) increase the supply of wheat to African millers in the destination countries to produce wheat products; (ii) increase the supply of animal feed (soya bean, corn) to destination countries; (iii) increase technical support from the Group to millers to improve food safety and quality; and (iv) increase (in-kind) financing to millers to ensure continuity in commodity trading. To measure progress against this outcome, IFC will track the: (i) volume of products supplied to customers; and (ii) number of customers reached. The Project is expected to have catalytic effect of stimulating industry-wide best practices in grain trade financing, grain sourcing and processing, and facilitating food quality and safety improvements, moving the sector toward greater competitiveness from domination by large players to more participation by mid-sized players. To measure progress against this outcome, IFC will track the number of private sector banks providing support to the Group (which should increase or at least remain stable).

The Group implemented a corporate governance policy. In 2018, the group issued its first code of conduct, updated in 2021. The Group issued a Community & Stakeholder Policy in 2021. In 2020, the Group received a CSR certification (by GRI) that was renewed in February 2025. IFC has reviewed the Group’s Corporate Governance policies and procedures and concluded that the corporate governance risks are low. No major issue was identified during the review.

IFC’s proposed investment consists of a $20 million risk sharing facility with BIC-BRED to increase their available credit facility to $60 million for AGRO COMPANIES to finance more trade flows. BIC-BRED had limits on facility size that prevented the Bank from financing large cargoes of wheat and feed when the prices were high. With IFC, larger financing have become possible. In addition, IFC’s involvement is expected to contribute to the reinforcement of the Group’s environmental and social practices, in line with IFC’s Performance Standards and industry best practices.

E&S Category Rationale / Risks and Mitigation

The investment is an IFC risk sharing facility in a trade finance facility with BIC-BRED for Agro Companies. The target commodities are wheat, corn, barley, soy, sunflower, and animal feed. The key E&S risks and impacts derive from the management of the potential E&S risks associated with soft commodity supply chains. Typical risks and impacts include occupational health & safety and IFC PS 2 and PS 6 supply chain-related risks. As such, the Project has been categorized as Category FI-2 in accordance with IFC's Sustainability Policy. BIC BRED is an existing client with satisfactory E&S performance. An assessment of labor practices in relation to Performance Standard 2 and life and fire safety requirements revealed that the Bank meets the respective IFC requirements. The Project will not support coal-related activities or higher-risk business activities that may include a) involuntary resettlement, b) risk of adverse impacts on Indigenous Peoples, c) significant risks to or impacts on the environment, community health and safety, biodiversity, cultural heritage or d) significant Occupational Health and Safety risks. The applicable E&S performance requirements for this Project include the IFC Exclusion List, relevant host country E&S laws and regulations, and screening against PS 2 and PS 6 for supply chain risks.

BRED Banque Populaire (BPCE) Group has established an Environmental, Social, and Governance (ESG) Framework that outlines procedures for assessing environmental and social risks and impacts of its lending activities. This process includes evaluating the borrower’s practices to prevent or reduce project-related impacts. It also considers compliance with host country regulations, IFC Performance Standards, and the World Bank’s Environmental, Health, and Safety Guidelines, as well as other applicable industry standards. BPCE uses tools to assess companies against exclusion criteria and integrates environmental and social risk into its credit policy. To strengthen its review of E&S risks, BIC BRED has an E&S grid used to identify and manage supply chain risks linked to transactions financed for Agro Companies. For this project, BIC BRED will be required to (i) Continue implementing the BPCE Group ESG Framework (ii) update its E&S grid and reporting.

Agro Companies has a Health Safety Security and Environment (HSSE) policy and procedures, responsibilities, and tools for undertaking E&S reviews associated with its grain trading activities. Most of the commodities sourced by the obligor do not originate in areas subject to deforestation or habitat conversion risk, based on compliance with their respective Sustainability Policy and independently verified through the release of a bi-annual public report. PS2 risk profile of third-party suppliers is low for child / forced labor and significant OHS risks.

S.no	Title	Anticipated Completion Date
1	Continue applying E&S procedures	12/31/2025
2	Annual Environmental Performance Report	04/30/2026

Contacts

For Inquiries About the Project, Contact

Agro Companies International
Xavier Panhard
CEO
+41223193939
x.panhard@agro-companies.com
86, Rue du Rhône, 1204 Genève, Suisse
www.agro-companies.com

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IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

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This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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