Browsing: Trade and Development Bank

The French Development Agency (AFD) signed a partnership with the Trade and Development Bank (TDB) of Eastern and Southern Africa to open a $150 million line of credit to finance sustainable infrastructure in East Africa.

Trade and Development Bank (TDB) is a commercial bank owned by the member states of the Common Market for Eastern and Southern Africa (COMESA), the World Bank and China.

The agreement was initiated by TDB’s chairman and CEO  Admassu Tadesse and Ghislain de Valon, Director of AFD in Kenya. According to the  French Development Agency, the aim of the credit line is to support Trade Development Bank in its role as a leading regional bank for climate finance in the region it serves (East Africa).

The funding will also increase the Trade and Development Bank’s supply of climate finance, directly contributing to the achievement of the objectives set out in the National Climate Change (NCC) …

Partners of the  Africa Investment Forum said the increased and decisive investment will be the channel for Africa’s economic recovery post-COVID-19.

The partners expressed their confidence in Africa’s potential to recover from the ongoing crises in the economy and health.

“Africa will come out of this pandemic, tough as it is, and will build better and stronger economies. As partners of the Africa Investment Forum, the premier investment platform for Africa, our gaze must be clear; help Africa reboot its economy,” said African Development Bank President Dr Akinwumi Adesina, during a two-day virtual meeting for Africa Investment Forum founding, institutional and knowledge partners.

During the virtual meeting, the Africa Investment Forum revealed 15 projects under its Unified COVID-19 Response identified across five sectors for priority funding consideration. The five sectors include energy, agriculture and agro-processing, health, ICT and telecoms and industrial and trade.

The 15 deals are from the forum’s …