EFIC helped Wellard Rural Exports by providing Rabobank with an export finance guarantee

As one of Australia’s and the world’s leading livestock exporters, Wellard Rural Exports (Wellard) often seeks the support of flexible financing solutions for its international business ventures.

When bidding for a US$12.95 million project to assist the National Livestock Development Board of Sri Lanka in the establishment of a high productivity dairy farm, Wellard wanted the backing of a financing package to enable it to deliver the best possible outcome for the project.

Under the contract, Wellard will supply the Government of Sri Lanka with high quality Australia dairy cattle, farming infrastructure, plant and equipment and farm management support services. The farm is to act as a pilot project, for the subsequent development of larger scale dairy production farms in other parts of Sri Lanka. The project will be implemented in two stages with 500 head of dairy cattle exported and initial farm infrastructure developed in the first stage, and the remaining 1,500 head of dairy cattle exported and further infrastructure to be completed in the second stage.

EFIC will provide Rabobank with an export finance guarantee in an amount equal to 81% of the US$12.95 million project which enables Rabobank to provide a long term sovereign loan to the Government of Sri Lanka to fund the dairy infrastructure project.

EFIC’s understanding of the complexities of international financing structures and its ability to partner with local and international finance networks delivered an export guarantee to help Wellard continue to compete in global markets.

Wellard has operations in exporting countries and import destinations on every continent. It has developed a number of joint ventures in importing countries to utilise the company’s technical expertise and add value to the livestock industry in those countries where it operates.

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