(Ecofin Agency) - 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.