Le dimanche 17 décembre dernier, l' United Bank for Africa (UBA) received a $175 million package from the African Development Bank Group (AfDB).

Financing provided by the ADB includes $100 million in long-term senior debt, $50 million in medium-term senior trade finance, and a $25 million risk participation program. Indeed, the unfunded risk participation agreement aims to strengthen the role of UBA UK as a regional confirmation bank and, by extension, to expand access to international markets for largely excluded African issuing banks. According to Ahmed Attout, African Development Bank, Acting Director of Financial Sector Development, “This intervention will respond to the unmet demand for trade finance in Nigeria and Africa respectively by providing medium-term finance to support the export and import of intermediate goods needed to maintain vital economic sectors. It will also unlock stable and affordable financing for SMEs that are the engine of economic growth and job creation in Nigeria