Danish fund IFU invests extra $20mln in Trade and Development Bank
Wednesday, 18 November 2020 15:32
The Danish Investment Fund for Developing Countries IFU approved the disbursement of an additional $20 million for Trade and Development Bank, a development financial institution operating in Africa.
The new operation brings the Danish fund’s total investment in the Bank at $40 million. According to Admassu Tadesse (pictured), Chairman of Trade and Development Bank, “with this new investment, we will continue to intensify our commitment to lead interventions focused on sustainable development goals in our member states and among the communities we serve.”
In December 2019, the Danish investor completed its first investment in the Multilateral Bank with $20 million. The two institutions had agreed to explore co-financing opportunities in sectors such as agriculture, health, education, hotels, and infrastructure.
IFU and the Trade and Development Bank also agreed to collaborate on several initiatives, including the financing and support of small and medium enterprises (SMEs) in African countries that have partnerships with the Bank.
Chamberline Moko
Live News
-
REMTP 2026: Lomé to Host the Regional Public Securities Market Meetings
10:02
-
Liberia plans state-owned bank to expand agri-financing
09:49
-
Togo’s Senate approves 2026 budget at CFA2,751.5 billion
09:16
-
Sonatel Orange rolls out satellite internet to expand connectivity in Senegal
09:11
-
Aton targets 2027 launch for new gold and silver mine in Egypt
09:02
-
Ethiopia’s Tulu Kapi gold project moves closer to launch after repeated delays
08:59
-
Togo approves revised 2025 budget raised to CFA2,436bn
03:32
-
Zenithe Insurance and Lothe Consulting Secure Major Deal to Cover Cameroon’s State University System
03:26
-
AFREXIMBANK Moves to Secure Land for Central Africa HQ and Medical Centre in Cameroon
03:24
-
PROMOTE 2026 Set to Power Cameroon-Germany Trade Expansion
03:21
Fruitful partners with Elsewedy unit to launch processing project in Egypt New facility wil...
Kenya shipped its first mango consignment to the UK on December 20 The move is part of a pilo...
In Africa, the transformation of food systems has become an urgent issue in the face of rapid popula...
Airtel Africa signed a partnership with SpaceX to launch Starlink Direct-to-Cell satellite connect...
Central bank launches project for real-time transfers across banks and mobile wallets System aims...
The Senate has approved a bill to create the Agriculture Enterprise Development Bank Farmers received only 4.1% of bank credit in 2024, according...
Aton Resources plans to start gold and silver production at Hamama West in 2027 The project is held 50-50 with Egypt’s Mineral Resources...
Kefi says it has secured $340 million to develop the Tulu Kapi gold mine The project targets first production in 2027 after several schedule...
The government plans to add 500,000 hectares of rubber plantations over 10 years Natural rubber exports exceeded 1.87 million tons and CFA1,244...
Algiers is a coastal capital of around four million inhabitants, located in north-central Algeria. Its urban structure, heritage, and social practices...
Palm Hills Developments signs agreement with Marriott International to introduce the St. Regis brand in West Cairo. Project to include a luxury...