TCX

Africa Energy Forum

TCX

TCX is a development finance initiative backed by a shareholder base that includes FMO, IFC, EBRD, EIB, and KfW, as well as the European Commission and Dutch, Swiss, British, French, and German governments and other DFIs and microfinance vehicles. TCX protects borrowers in emerging and frontier markets from currency risk by facilitating currency hedges that transfer the risk to TCX’s balance sheet. TCX offers derivative instruments – cross-currency swaps and FX forwards – in currencies not or insufficiently covered by commercial parties. Since starting operations in 2007, TCX has hedged a total volume of over USD 19 billion in development loans across 71 currencies.

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