Standard Chartered partners with CDC on $150m SCF programme

CDC Group, the UK's development finance institution, and Standard Chartered have signed a memorandum of understanding for a supply chain finance programme that will increase financing for SME suppliers in Africa and South Asia.

The first countries to benefit from this scheme are expected to be Nigeria, Uganda, Ghana and Kenya. The agreement, which is a 50:50 risk-sharing facility, is expected to disburse at least $150 million to suppliers over three years. Under the deal, the two institutions will bear the risks of local anchor buyers involved in supporting their supplier base.