Browsing: trade finance transaction guarantee facility

• African Development Bank Group (AfDB) has approved a trade finance guarantee to Banque Commerciale Du Burundi (Bancobu) to support Small and Medium Sized Enterprises (SMEs) and local corporates involved in import and export trade.
• The Bank will provide a guarantee to Confirming Banks for the non-payment risk arising from the confirmation of letters of credit and similar trade finance instruments issued by Bancobu.
• This facility will support the importation of critical inputs such as fertilizer, pharmaceuticals, solar energy panels, farm machinery and other intermediate goods that Burundi needs to revive its agriculture and manufacturing sectors.

Small and Medium Enterprises engaged in import and export businesses in Burundi can now look forward to enhancing their operations after the African Development Bank Group (AfDB) approved a trade finance guarantee deal for Banque Commerciale Du Burundi (Bancobu).

Following the agreement, Bancobu will provide a guarantee to confirming banks for the non-payment risk arising …