• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, June 5, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Foreign

AfDB approves $35m trade finance to Ecobank

The Matters Press by The Matters Press
December 2, 2021
Reading Time: 2 mins read
0
Ecobank’s Eurobond hits $450m

Ecobank

The Board of Directors of the African Development Bank (AfDB) has approved a $35 million unfunded risk-sharing facility to support the trade finance activities in Africa of Ecobank International affiliates, EBI SA.

RELATED POSTS

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

Rescued victims of human from Cote D Ivoire arrive Nigeria

The money was approved on 19 November 2021, Stefan Nalletamby, Director for Financial Sector Development at the African Development Bank, said.

The director said the renewal of the partnership with Ecobank comes at a time when most African issuing banks are battling with the negative impact of the Covid-19 pandemic.

“Institutions are facing severe constraints in obtaining adequate facilities from international banks to support African small businesses and local corporates involved in international trade.

“The facility will support more than 50 issuing banks operating in 35 African countries and is projected to catalyze close to $300 million worth of trade transactions over a three-year period,” said Nalletamby. 

The facility aligns with the acute market demand for trade finance in Africa in agriculture, transport, construction, health and manufacturing, and is consistent with the Bank’s High 5 strategic priorities, specifically Industrialize Africa, Integrate Africa, and Feed Africa.

“It is also in line with the operational priorities of the Bank’s Financial Sector Development Strategy, which promotes increased access to finance for small businesses and widening and deepening African financial markets.’’

The Bank’s Deputy Director General for West Africa, Joseph Ribeiro, said: “We are happy about this new facility with Ecobank as it offers the flexible use of the Bank Group’s strong AAA-rated risk-bearing capacity to increase access to trade finance on the continent, and more specifically, to support access to finance for small and medium enterprises and local enterprises operating in fragile states.”

Ecobank Transnational Incorporated is headquartered in Lomé, Togo, as a pan-African bank holding company.

It has a presence in 32 African countries and is represented in France through its affiliate, Ecobank International, EBI SA. Ecobank has representative offices in Beijing, China, Dubai, United Arab Emirates and the UK.

Its shares are listed on the Ghana, Nigeria and the West African Monetary Union Stock Exchanges.

Tags: AfDBEcobank
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

May 24, 2025
Rescued victims of human from Cote D Ivoire arrive Nigeria
Foreign

Rescued victims of human from Cote D Ivoire arrive Nigeria

May 11, 2025
World Bank predicts 4% global economic growth, 1.1% for Nigeria in 2021
Economy/Technology

World Bank reports 32m beneficiaries of Nigeria’s Cash Transfer programme.

February 7, 2025
East African leaders worry over situation in DRC
Foreign

East African leaders worry over situation in DRC

February 1, 2025
UAE President’s impending visit, proof the world is shifting attention to Nigeria – TMV
Economy/Technology

UAE President’s impending visit, proof the world is shifting attention to Nigeria – TMV

January 25, 2025
Next Post
Joseph Wayas, second republic senate president, is dead.

Joseph Wayas, second republic senate president, is dead.

How This Painter’s Artful Pants Caught the Eye of Bella Hadid

Recommended Stories

Airtel Africa receives approval as payment service bank

Airtel partners device manufacturers to drive 5G adoption

September 7, 2023
Nigeria plans to increase petrol pump price despite spike in inflation, unemployment

Motorist in Enugu laments scarcity of fuel

November 1, 2022
America’s new leaders: Biden and Harris

US administration will determine new economy direction in 2021

January 19, 2021

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF
  • FCT ground rent!: Check your name if you own property
  • Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us