African Development Bank Accepts Risk Participation Agreement with Crédit Agricole CIB
As per the latest news, the Board of Directors of the African Development Bank Group has supported a Risk Participation Agreement of $50 million with Crédit Agricole Corporate and Investment Bank.
This arrangement will help African Banks and their small and medium-sized enterprise (SME) customers to compete in more extended regional and international trade. It is focused on enabling a cumulative trade transaction volume of $450 million over the next three years.
“This agreement boosts certainty among various African leaders to support a new trade dynamic on the continent,” explained Mohamed El Azizi, the African Development Bank’s Director General for North Africa. He added, “And this is important for the realization of the African Continental Free Trade Area, which will aid in bringing resilience, attract growth and boost a recovery that sets out opportunities and jobs.”
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