SEA Digest: FMO, Rabobank extend loan to Agrocorp; Myanmar’s DAWN bags $7.5m

Dutch development bank FMO and Rabobank have extended a $50-million sustainable loan package to Singapore-based Agrocop International while Myanmar-based microfinance firm DAWN has received a $7.5-million local currency loan.

SG-based Agrocorp secures $50m sustainable loan from Dutch FMO, Rabobank 

Dutch development bank FMO and Rabobank have signed a $50-million sustainable loan package for Singapore-headquartered agri-commodities trading firm Agrocorp International, the lenders announced on Wednesday.

The loan is split into two tranches with FMO covering prepayments and inventory while Rabobank will finance receivables. Rabobank will also take on the role of the facility agent.

As part of the facility, Agrocorp will be working with consultancy firm Earth Systems to set and monitor sustainability targets and reporting requirements.

The agri-focused firm will also be working with FMO to establish farmer training programmes in markets such as Myanmar where it has a strong presence.

Agrocorp is focused on various agricultural commodities such as pulses, wheat, rice, oilseeds, sugar, and edible nuts. The company has operations in over 20 countries.

FMO provides $7.5m loan to Myanmar-based DAWN Microfinance

FMO has provided a $7.5 million in local currency loan to Early DAWN Microfinance Company Ltd to weather the impact of COVID-19 pandemic on its MSME clients, the FMO said in a statement.

The pandemic, which has caused rapid disruption across the country’s economy, including in the microfinance sector, has driven the development bank to provide loans to the institution.

The loan would enable DAWN to continue supporting its microfinance clients in the current difficult period. In Myanmar, the repayment deferrals in combination with debt service obligations and ongoing operational costs are severely limiting the lending capacity of MFIs.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.