Project News Details
Title:
MALAWI - NBS BANK PLC
Detail:
This is a Trade Finance Transaction Guarantee (TG) facility of USD 7 million in favor of NBS Bank PLC (NBS), being the Issuing Bank (IB), to support its trade finance activities in Malawi. This facility will allow the Bank to provide up to 100% guarantee to Confirming Banks (CBs) for the non-payment risk arising from the confirmation of letters of credit and similar trade finance instruments issued by NBS. This facility will be unfunded and uncommitted allowing the Bank the flexibility to withdraw it without notice or consequence. The ultimate beneficiaries include SMEs and local corporate clients of NBS in Malawi involved in intra-Africa and/or international trade. Climate finance is not attributed to this project.
Country:
Source:
African Development Bank Group
Published Date:
03.12.2023
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