Liberia's Afropa To Secure $20M for Expansion in Sierra Leone

Afropa Liberia Inc., a beverage and food distribution company based in Liberia, is set to receive a $20 million debt financing package for its expansion endeavors in Liberia and Sierra Leone. The funding comprises a $10 million A-loan from the International Finance Corp (IFC) and a $10 million loan from the IDA20 IFC-MIGA Private Sector Window's Blended Finance Facility. Afropa is executing a $33 million project, focusing on increasing water bottling capacity in Liberia, refurbishing a newly acquired plant in Sierra Leone, and addressing working capital needs.

As part of the initiative, Afropa plans to implement a Food Safety Management System adhering to ISO 22000 standards in its plants, aiming to enhance operational efficiency and reinforce corporate governance. IFC proposes to support this effort through Food Safety Advisory and potential financial assistance for technical support, emphasizing a holistic approach to the company's growth and sustainability.