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  • Global food and agri-business Olam International Limited and its wholly owned subsidiary, Olam Treasury Pte. Ltd. (“OTPL”), have secured multi-tranche financing facilities aggregating US$176.0 million from the International Finance Corporation (“IFC”) and Japan International Cooperation Agency (“JICA”).
  • The Facilities consist of two tranches – a 5-year term loan of US$120.0 million and a 7-year term loan of US$56.0 million.
  • This facility also aligns with Olam’s core purpose of re-imagining global agriculture and food systems as well as IFC’s and JICA’s mandate of enabling inclusive economic growth with environmental stewardship and regional integration.
  • Proceeds from the Facilities will be used for the procurement of specific agri-commodities from smallholder farmers in Vietnam, Indonesia, Timor-Leste, Papua New Guinea and Uganda as well as the expansion of Olam’s cocoa processing facility in Indonesia.
  • Olam supports fight against COVID-19 pandemic, including S$1.2 million donation to The Courage Fund. Olam International stands united with the global community amid challenging times as the COVID-19 crisis continues to unfold and impact all.
  • The funds provide relief for those affected by the COVID-19 crisis, particularly patients, healthcare and frontline workers, and vulnerable Singaporeans.
  • Around the world, Olam has joined forces with its partners and governments to support national efforts on public sanitisation, awareness campaigns and distribution of medical supplies.
  • To address challenges facing local communities, Olam is disseminating information and advice on COVID-19 to farmers through its online platforms, supporting mobile payments to farmers, and providing food packages to frontline workers.
  • Through its infrastructure and logistics business, ARISE, it has sourced and distributed essential medical and healthcare equipment, including 50 ventilators, 24 thermal cameras, 10,000 electronic thermometers, 500,000 gloves, 230,000 disinfectant gels and 7 million masks, to communities in Africa.
  • In the majority of markets where it operates, Olam’s processing facilities continue to remain operational, where local regulations allow, and it is maintaining its business operations to service customers’ needs.
  • Over the past several weeks it has taken action to suspend all travel, implement additional health and safety precautions across its locations worldwide, as well as introduces new working protocols, such as working from home and staggered shift rotations at its processing facilities, to support social distancing.

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