20 August 2018, Amsterdam. The Common Fund for Commodities (CFC) has signed a USD 1,200,000 loan agreement with FACTS East Africa B.V., to finance the expansion of the factoring activities in Kenya and Uganda. The CFC funds will be equally split between the two countries and will be used to support the operations of small enterprises in the agribusiness sector.
The agreement was signed by the CFC Managing Director Parvindar Singh and Peter van der Krogt, Executive Director of FACTS.
At this occasion Mr. Singh commented that “The project will help extremely vulnerable SMEs to boost their liquidity, increase their access to finance, and promote creation of jobs”. Mr. Singh reiterated CFC’s continued interest in supporting innovative and impact oriented projects along the commodity value chains.