Deal: Ecobank signs $200million Trade Loan With African Development Bank

Ecobank has signed a $200 million facility with African Development Bank to boost intra-regional trade in Africa, the Pan-African lender said on Thursday.

“This facility will greatly support international and intra-regional trade in Africa,” Ecobank CEO Albert Essien said in a statement.

The facility comprises a trade facilitation and origination loan and will support around $1.8 billion of trade transactions in Africa over a 3-1/2 years, from local corporates and small and medium sized businesses, the bank said.

Source: Reuters