African Development Bank approves a $50 million Multinational Trade Finance Risk Participation Agreement facility for Standard Chartered Bank

African Development Bank approves a $50 million Multinational Trade Finance Risk Participation Agreement facility for Standard Chartered Bank

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $50 million Trade Finance Unfunded Risk Participation Agreement (RPA) facility between the African Development Bank and Standard Chartered Bank. The agreement is expected to boost intra-Africa trade, promote regional integration, and contribute to the reduction of the trade finance gap in Africa, in line with implementation aspirations of the African Continental Free Trade Area (AfCFTA).
Source: African Development Bank approves a $50 million Multinational Trade Finance Risk Participation Agreement facility for Standard Chartered Bank

- gist culled from pulseng