The African Development Bank (AfDB) has signed an agreement for a $15 million Transaction Guarantee Facility with NMB Bank Zimbabwe.

The ADB and NMB Bank Limited Zimbabwe (NMB) have signed an agreement for a US$15 million Trade Finance Transaction Guarantee Facility to unlock trade finance opportunities for Zimbabwean small and medium-sized businesses and those operating in agribusiness and retail value chains. commercial distribution.

The facility provides up to 100% coverage to confirming banks, effectively mitigating non-payment risks associated with NMB Bank's commercial transactions, on a transaction at a time basis. It is designed to support trade between Zimbabwe and other African countries, as well as with foreign markets, by significantly reducing the risk for international financial institutions that actively engage in trade finance activities with Zimbabwean businesses