CDC helps with USD 100 mln finance facility in Africa

Wednesday 20 January 2021 13:42 CET | News

CDC Group has moved to support the Eastern and Southern African Trade and Development Bank (TDB) with a new USD 100 million finance facility.

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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Keywords: CDC, Africa, TDB, trade finance, SCF, COVID-19
Categories: Banking & Fintech
Countries: Africa
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Banking & Fintech

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