The group is a publicly funded development finance institution. As Global Trade Review (GTR) shows, the agreement aims to boost TDB’s capacity for providing credit to African businesses in need of short-term financing, and who are grappling with the economic impact of Covid-19.
The commitment will provide top-up loans and capital to new and existing TDB clients, which in turn will support the import, export and production of strategic inputs and agricultural commodity goods in the 22 members states where TDB operates.
There will be a strong focus on those economies with the most challenging investment climates, the press release says. The deal ‘comes at a time when access to finance for local companies and importers is more limited across the African continent’.
The likes of TDB have previously said that financing strains have only gotten worse since the outbreak of the pandemic.
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