Morocco: Banque Centrale Populaire and AfDB to inject $100M in Africa’s intra-regional trade

Finance

Morocco: Banque Centrale Populaire and AfDB to inject $100M in Africa’s intra-regional trade

Friday, 28 October 2016 04:37 Last modified on: 28 October 2016 04:37

Moroccan banking group Banque Centrale Populaire and African Development Bank (AfDB) have committed to finance intra-regional trade in Africa.

The agreement signed during King Mohammed VI’s visit to Tanzania between representatives of the two parties is for a $100 million precautionary line divided equally between the two actors.

This week, AfDB announced about $378 million of financing commitments for African nations. $25 million was granted for a regional project which aims to improve safety and transport related to fishery at Lake Victoria. $1.58 million (950 million CFA francs) was given to Togo to support economic empowerment of women and $350 million disbursed for Abidjan’s health program.

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