African Development Bank approves $50 million, 50 million Euro for ECOWAS Bank
The Board of Directors of the African Development Bank Group has approved a dual-currency Trade Finance Line of Credit for ECOWAS Bank for Investment and Development (EBID) comprising $50 million and EUR 50 million. An additional co-financing of $30 million for the credit line will come through the Africa Growing Together Fund (AGTF) from the People’s Bank of China (PBOC).
EBID will use the three-and-a-half-year facility to provide direct financing to local corporates. Part of the facility will also be…