The African Development Bank Group (AfDB) has approved a $200 million trade‑finance line of credit with the Trade and Development Bank (TDB). The decision was taken by the AfDB Board of Directors, signalling a new partnership aimed at boosting trade across the continent.
The facility will provide TDB with a dedicated source of capital to finance trade transactions, helping to lower borrowing costs for businesses that import and export goods throughout Africa.
By strengthening TDB’s capacity to offer trade finance, the AfDB hopes to support the growth of intra‑African trade and improve access to working‑capital for companies operating in the region.
Trade and Development Bank, a commercial bank based in the Democratic Republic of Congo, has long been a key player in providing financial services to African businesses. The new line of credit will enhance its ability to meet the demand for trade‑related funding.
While the announcement does not detail the specific terms or conditions of the credit line, the move is part of the AfDB’s broader strategy to promote economic integration and development across African markets.
<small>Source: AllAfrica — read the original story there.</small>
