- July 15, 2021
- Posted by: adminer
- Category: Finance, International
CDC Group, the UK’s Development Finance Institution and impact investor, has announced a $50 million trade finance facility for Ecobank International (EBI SA), the Paris based member of the Ecobank Group.
The group provides systemic liquidity and supports vital supply chains across Africa’s markets; Sustains and increases access to goods and services during the pandemic; Bolsters economic opportunities and inclusive growth, in markets such as Togo, Burkina Faso and Chad.
This marks CDC’s first partnership with EBISA with the commitment aimed at providing systemic liquidity to underserved markets and crucial trade finance support to local banks and businesses across Africa.
The Covid-19 crisis has had a significant adverse effect on trade flows, business operations and jobs in Africa’s markets.
This CDC facility will support the continent’s economic recovery and is expected to generate between US$70 – $140 million in additional trade annually.
The investment will enhance the import of essential goods, commodities and capital equipment, while also helping to expand access to goods and services in general.