The proposed project concerns a US$ 50 million long-term Line of Credit (LoC) package to Eastern and Southern African Trade Development Bank (TDB). TDB was founded in 1985 as a multilateral, treaty-based financial institution with international immunities and privileges. It was conceived as the financing arm of the Preferential Trade Area for the Eastern and Southern African States, which was later transformed into Common Market for Eastern and Southern Africa (COMESA). TDB is a development finance institution (DFI), with whom the AfDB has an existing relationship spanning over 20 years. The facility falls under a US$ 300 million funding package to Eastern and Southern African Trade Development Bank (TDB), comprising US$ 200 million unfunded Risk Participation Agreement (RPA) and US$ 50 million Trade Finance Line of Credit (TFLoC). The LoC will have a tenor of 10 years. The project finance component will facilitate the delivery of export-oriented infrastructure, which will promote regional trade within the COMESA region. The facility further demonstrates the Bank’s longstanding and growing partnership with the TDB as a regional development finance institution in pursuit of shared development goals.

International

African Development Bank Group

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16.07.2019

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