GuarantCo Guarantees $75 Million Debt for Robust's Cashew Processing Plant in Ogun, Nigeria
GuarantCo has provided a 100% guarantee for a $75 million debt facility to Robust International for a cashew processing plant in Ogun State, Nigeria. The new facility will double Robust's processing capacity from 100 MT to 220 MT per day, benefiting approximately 10,000 low-income farmers and generating an expected $335 million in export revenue. The project aims to create up to 900 jobs, with a focus on women, and aligns with UN Sustainable Development Goals 2 and 9.
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GuarantCo, part of PIDG, has guaranteed a $75 million debt facility for Robust International to construct a new cashew processing plant in Ogun State, Nigeria. The plant will increase Robust's processing capacity from 100 MT to 220 MT per day.
It is expected to benefit around 10,000 low-income smallholder farmers and generate approximately $335 million in export revenue over the guarantee's lifetime. The facility will create up to 900 jobs, with a target of 78% being held by women, and aims to enhance local procurement from women farmers from 15% to 25% by 2028. The project aligns with UN Sustainable Development Goals 2 and 9 and incorporates waste conversion functionalities for biomass and biofuel production.
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