Trade and Development Bank (TDB) to unveil new initiatives for boosting trade finance in Africa at the Invest in African Energy Forum 2024.
Trade and Development Bank (TDB) intends to unveil new initiatives for boosting finance in Africa at the Invest in African Energy Forum 2024, highlighting the bank’s pivotal role in promoting regional integration and sustainable development.
Trade finance in Africa
When it comes to trade finance in Africa, the Trade and Development Bank (TDB) is attempting to offer new solutions to address the ongoing finance gap. Admassu Tadesse, Group President and Managing Director of TDB, is slated to deliver a keynote speech at the Invest in African Energy (IAE) 2024 forum in Paris. This address will spotlight the transformative role of finance in shaping the African continent’s economic landscape.
Strategic partnerships and expanding influence
A testament to its expanding influence, in March, TDB secured a substantial USD 100 million finance facility from British International Investment. This move aims to invigorate local businesses and financial institutions across Africa, thereby enhancing trade activity, economic resilience, and accessibility to goods and services.
IAE 2024
Organized by Energy Capital&Power, IAE 2024 stands is a leading platform for fostering investment ties between African energy markets and global investors. Scheduled for May 14-15, 2024, in Paris, the forum offers an invaluable opportunity for intense engagement with industry leaders, project developers, investors, and policymakers.
Expanding financial solutions
Furthering its commitment, the TDB inked an MOU with the International Islamic Trade Finance Corporation in October 2023. This collaboration focuses on reinforcing finance solutions for member states and exploring avenues for technical assistance and capacity building, particularly targeting the private sector and SMEs.
Collaboration with African Development Bank
In a similar vein, the African Development Bank has recently approved a $150-million finance facility with the TDB. This strategic move is aimed at enhancing intra-African trade, promoting regional integration, and bridging the existing finance gap. It aligns seamlessly with the African Continental Free Trade Area’s implementation.
A forward-looking approach to trade finance
In his speech at IAE, Tadesse, an expert in trade and development finance, is anticipated to delve into strategies for de-risking and improving access to finance for Africa’s large-scale energy and infrastructure projects at the forum. The event promises to be a convergence point for global investors and financial institutions, connecting them with African projects, policymakers, and developers in a bid to enhance financial collaboration and investment in the region.
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