Swedfund backs agribusiness company
Swedfund has announced a working capital loan of up to $15 million to agribusiness company Robust International.
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Swedfund has announced a working capital loan of up to $15 million to agribusiness company Robust International. The loan is part of a joint initiative together with the Dutch, British and French development finance institutions and the Dutch fund manager ILX.
The loan will enable Robust to source local commodities for new processing facilities. The company will buy sesame seeds and cashew nuts directly from cooperatives, aggregators and farmers locally to support operations at its new processing facilities in Côte d'Ivoire, Mozambique and Burkina Faso. 
"Africa exports many agricultural products for processing and refining. Robust now takes the step to do this locally instead, leading to job creation, development of the local supply chains, increased capacity and lower emissions. Robust has a strong focus on human rights and decent conditions for workers and farmers in their supply chain. Through the working capital facility, we offer funding where local banks are not able to," says Sofia Gedeon, head of sustainable enterprises and food systems at Swedfund.
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