Olam International secures $200m EBRD loan

The European Bank for Reconstruction and Development has agreed a $200 million loan to Olam International to finance the purchases of agricultural commodities such as hazelnuts, dry dairy products, grain and onions in five economies across the eastern Mediterranean, eastern Europe and the Black Sea region.

Local subsidiaries of the Singapore-headquartered company will take on the processing, storage and distribution of these goods.

The European Union and the TaiwanBusiness-EBRD Technical Cooperation Fund will provide donor support for the development of new methodologies and processes for climate-related risk management and stress testing in Egypt and Turkey.