Audio By Carbonatix
The African Development Bank said on Monday it approved financing worth 70 million euros ($78.3 mln) for Moroccan lender Bank of Africa to promote access to trade finance in Africa.
The trade finance facility comprises a Risk Participation Agreement (RPA) of 50 million euros and a Trade Finance Line of Credit (TFLOC) of 20 million euros, the AfDB said in a statement.
The funding should catalyse almost 300 million euros in trade over 3.5 years, it said.
Bank of Africa is Morocco's third largest bank with branches in 32 countries, including 20 in Africa.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Tryton Motors and JAC Motors reach agreement to become official GFA vehicle partner
6 minutes -
It’s very tough to be a musician in Ghana; everything is a loss – Camidoh
22 minutes -
Ghana has technical capacity, but capital remains key constraint in mining sector – Dr Boateng
24 minutes -
Don’t accept financial terms blindly – Amma Gyampo advises consumers
27 minutes -
Senegal president appoints economist as prime minister after political rift
33 minutes -
Ghanaian participation in extractive sector must increase – Expert
1 hour -
Government must make industrialisation a condition in mining contracts — Ayi-Owoo
1 hour -
Inside Audit Report: Check the alleged inflated contracts in 2023 African Games
1 hour -
J.Derobie reunites with Gold Up Music on new dancehall release ‘Start Over’
1 hour -
Mawuli School PTA donates desks, water tanks to improve academic environment
1 hour -
Hybrid funding approach key to strengthening local mining participation — Mineral economist
2 hours -
Rotary Club donates classroom furniture to PRESEC Legon, partners with OSP to inspire students on integrity
2 hours -
Ghana should focus on maximising mining revenues, not nationalisation – UMaT lecturer
2 hours -
Pushing for 100% state ownership of mining is risky – Dr. Sarkodie warns
2 hours -
‘Super El Niño’ threat puts Africa at critical climate crossroads – Report
2 hours