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Banks: the AfDB grants a trade finance guarantee facility to Access Bank RD Congo

23/02/2024
Source : ORISHAS FINANCE
Categories: Sectors

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On Tuesday, February 20, the Board of Directors of the African Development Bank Group approved in Abidjan, a seven million US dollars trade finance guarantee facility to Access Bank RD Congo.

La facilité accordé par la BAD lui permettra de fournir jusqu' à 100% guarantee to confirming banks for the risk of non-payment resulting from the confirmation of letters of credit and other similar trade finance instruments issued by Access Bank RD Congo for the benefit of small and medium-sized enterprises (SMEs) and local businesses. Lamin Drammeh, chef de la Division du financement du commerce à la African Development Bank indicated that “it is a Facility that will contribute to improving the offer of trade finance services, by providing essential guarantees for the confirmation of letters of credit issued on behalf of SMEs, the target customers of Access Bank RD Congo

”.
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