We are pleased to announce that we are partnering with Deutsche Bank’s Corporate Bank on a USD 25 million sustainability-linked loan, with an accordion feature to upsize the facility to USD 75 million. The proceeds of the loan will be used for the maintenance of Corrie MacColl’s Cameroon rubber plantations and the Cameroon Outgrower Programme, which aims to provide additional food security and boost the income of 13,000 local smallholder farmers.
Environmental Resources Management, an independent environmental and sustainability consulting firm, has been appointed to support in designing the framework of the Sustainability Linked Loan Structure. This framework will complement existing sustainability objectives, and is another step for Corrie MacColl to drive ESG standards as the market leader in sustainability. The comprehensive nature of the sustainability KPIs will set a new standard for the rubber industry, making this commercial loan unique.