BADEA, Africa Finance Corporation to support trade finance in the region

Friday 4 December 2020 14:16 CET | News

The Arab Bank for Economic Development in Africa (BADEA), and the Africa Finance Corporation (AFC) have signed an agreement on co-financing projects in different fields.

The two parties have signed a memorandum of understanding to deepen their cooperation, as Zawya shows

The statement said AFC and BADEA are committed to co-develop and co-finance projects in the energy, transport, natural resources, heavy industries, and telecoms sectors as well as the realignment of Africa's trading position.

BADEA further commits to support strengthening AFC's presence in North Africa with the help of its institutional linkages in the sub-region as well as with investors in the Middle East.

AFC was established in 2007 with an equity capital base of USD 1.1 billion to catalyse private sector-led infrastructure investment across Africa. Sudan-headquartered BADEA is an independent international financial institution owned by 18 Arab countries.

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Keywords: Badea, Africa Finance Corporation, partnership, trade finance, AFC, Africa
Categories: Banking & Fintech
Countries: Africa
This article is part of category

Banking & Fintech