Press Release

IFC Supports Access to Finance for SMEs and Boosts Regional Trade in Djibouti

January 22, 2025
Copy of CIB - 39

Djibouti, January 22, 2025 – IFC, the private sector arm of the World Bank Group, today announced two agreements to support sustainable private sector growth in Djibouti, helping increase access to finance for small- and medium-sized enterprises (SMEs) and bolstering regional trade and food security through improved supply chain logistics at the country’s main port.

Deepening its partnership with the Central Bank of Djibouti, IFC will help modernize a movable collateral registry for financial institutions to increase access to finance for SMEs in the country. Many small businesses in Djibouti – especially those owned by women and young entrepreneurs – operate informally and lack the necessary documentation and collateral needed to meet traditional lending requirements.

This project will strengthen the regulatory frameworks for registering and enforcing security in movable property through the collateral registry, allowing the use of movable assets and thus facilitating increased access to finance for SMEs.

“The movable collateral registry is particularly useful as a financial instrument for small and medium enterprises in Djibouti because they often lack sufficient collateral to access traditional forms of financing,” said Ahmed Osman, Governor of the Central Bank of Djibouti. “We are profoundly grateful to IFC to help us modernize this instrument in Djibouti, which will help the small and medium enterprises to better access financing”.

IFC’s second agreement is with Tiryaki Agro Gida Sanayi Ve Ticaret (Tiryaki Agro), the largest agribusiness exporter in Türkiye which manages key food commodities like wheat and other grains through Djibouti. IFC will support the company’s development of a port storage facility in Djibouti. IFC will provide the operational analysis, planning, stakeholder identification and engagement, and regulatory analysis to help prepare the project.

This project will reduce vessel transit times, further facilitating increased trade of food commodities between Djibouti and neighboring countries. As a result, this project will streamline supply chain logistics and bolster food security.

“We are proud to collaborate with the IFC on this transformative project, which enhances both our operations and Djibouti's economic potential,” said Süleyman Tiryakioğlu, CEO of Tiryaki Agro. “As Tiryaki Agro celebrates its 60th anniversary, our commitment to Djibouti remains strong, and we are eager to explore further opportunities to improve the trade and logistics infrastructure, contributing to regional food security.”

"At the heart of the Horn of Africa, Djibouti plays a pivotal role in driving sustainable, resilient, inclusive growth in the region,” said Sérgio Pimenta, IFC Vice President for Africa. “IFC is committed to supporting Djibouti’s sustainable economic development and the partnerships announced will advance access to finance for small and medium businesses and further position the country as a regional logistics hub.”

These projects align with the World Bank Group’s Country Partnership Framework for Djibouti (FY2022-26), which aims to help Djibouti achieve its goal of reducing poverty through promoting inclusive private sector-led growth, job creation, and human capital; and strengthening the role and capacity of the state. 

They are also in line with IFC’s Private Sector Diagnostic for Djibouti, which outlines how the country can transform its economy, create quality jobs, and accelerate economic recovery by implementing reforms that will unlock private investment in key sectors – including transport, logistics, finance, and more.

About IFC

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.

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About Tiryaki Agro


With a 60-year history, Tiryaki Agro stands as one of the world's leading agricultural supply chain companies. Its unique global business model spans the entire supply chain, from certified seed production to field cultivation, storage, processing, logistics, trade, and reaching the end consumer. Tiryaki Agro provides nutritional solutions worldwide, committed to building a food future in harmony with nature. The company processes products sourced from approximately 30 countries, particularly Turkey, in 27 facilities across 10 locations on 3 continents, delivering over 4 million tons of conventional and organic agricultural products to customers in 70 countries annually. It operates in more than 40 ports globally, including one owned port and three privately contracted ports. Since 2018, Tiryaki Agro has strengthened its global leadership by acquiring majority shares in Sunrise Foods International, one of the world's largest supply chain management company for organic feed and oilseeds.

Contacts

For IFC

Sarah Moussa
+1 202 894 1581

For Tiryaki

Arzu Örsel
+90 537 316 93 03