AfDB Approves EUR 70 Million Trade Finance Facility for Bank of Africa Morocco

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Business & Finance Notícia

Trade Finance,SME,African Development Bank

The African Development Bank (AfDB) has approved a EUR 70 million trade finance facility for Bank of Africa Morocco (BOA) to promote access to trade finance across the continent, particularly supporting SMEs operating in transition states.

The African Development Bank Approves a Trade Finance Facility of EUR 70 Million for Bank of Africa Morocco to Promote Trade in AfricaAfrican Development Bank is joining forces with the Bank of Africa Morocco to promote access to trade finance on the continent, in particular providing support for SMEs operating in transition States" said Ahmed Attout, director of the Bank's Financial Sector Development Department.

The facility comprises a Risk Participation Agreement of EUR 50 million and a Trade Finance Line of Credit of EUR 20 million. The RPA will offer Bank of Africa Morocco the opportunity to provide more support to local banks on the continent in their international operations, as they increasingly face a decline in financing and confirmation lines with their foreign counterparts.

 

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