AfDB approves a $200 million facility to reinforce Ecobank

The Board of Directors of the African Development Bank approved yesterday a Trade Finance package of US$200 million comprising an unfunded risk-sharing facility and a trade facilitation loan, to support Ecobank Transnational Incorporated’s (ETI) trade finance activities in Africa.

The AfDB’s support will enable Ecobank to enhance its trade finance confirmation capabilities, avail medium-term liquidity support to ETI’s subsidiaries to provide appropriate trade finance to African small and medium enterprises (SMEs) and local corporates, and demonstrate appetite for Africa risk. 
Source: The Citizen, www.thecitizen.co.tz, reported from Dar es Salaam
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