Colombian Coffee Growers Federation (FNC) secured a $40m financing from Japanese Bank, SMBC
April 14 - 2022
Coffee Geography Magazine
Colombian Coffee Growers Federation (FNC)’s, The National Coffee Fund which finances public goods and services for coffee growers, secured a loan under the pretext of sustainable financing. The advance fund is classified as sustainable financing according to the principles of social loans of the Loan Market Association, Asia Pacific Loan Market Association and Loan Syndications & Trading Association, specialized in the syndicated loan industry. The Colombian Coffee Growers Federation (FNC) signed the agreement for the medium-term debt with a Japanese bank, Sumitomo Mitsui Banking Corporation (SMBC) for USD 40 million over three years.
Given the relevance that sustainable financing has gained in global trends as a way to contribute to the Sustainable Development Goals (SDGs), the finance arrangement also shows the history and recognition of the FNC as a responsible debt contracting party. With this financing, the FNC confirms its effective strategy for relating to the international financial markets.
The FNC CEO, Roberto Vélez (right), and Akihiro Fukutome, co-Director of the Global Banking Unit of Sumitomo Mitsui Banking Corporation (SMBC).
“We are proud to develop our relationship in the Japanese financial market, not only because of FNC’s global presence, but also because it is an ideal complement to the achievements made in the last 60 years of positioning Colombian coffee in Japan,” the FNC CEO, Roberto Vélez, said.