GRM International is one of Australia’s leading providers of project management services and technical assistance for international development projects.
It focuses on social infrastructure projects across a range of sectors and has almost 40 years of development experienced, having managed over 700 projects in more than 120 countries.
GRM’s clients include national aid agencies such as AusAID and UKaid, the European Commission, multilateral development banks and government authorities.
GRM needed assistance to finance its strong international growth and so we provided a $10 million bond facility to support the Brisbane-based company’s international contracts.
This one-year revolving facility enables GRM to request that we provide advance payment and performance bonds on its behalf for new contracts.
The first bond issued under this facility supported GRM’s contract with the Abu Dhabi Food Control Authority, worth approximately A$7 million, to establish and manage a farmers’ association in the Emirates’ western region.
Our facility supported the 13.5 million UAE dirham (around A$4 million) advance payment bond required by the contract.