|Approval Date||17 Dec 2003|
|Signature Date||10 Feb 2004|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
The Eastern and Southern African Trade and Development Bank (PTA Bank) Support Project aims to facilitate the restructuring process of the PTA Bank, its lending capacity and enhance its sustainability, so that it can better support the development of its member countries. The PTA Bank is an African regional development financial institution with a mandate to finance and promote trade, socio-economic development and regional economic integration across its Member States. The project will enhance investments and business expansion in the sub-region and thereby contribute to poverty reduction through employment generation and increased rural productivity. The project has two main components. The first is second line of credit (LOC II) that is intended to provide medium and long-term resources to the PTA Bank so that it can finance viable projects, expand and strengthen its operations and enhance its business profile. LOC II will finance sub-projects in the productive sectors in industry, agro-industry, floriculture, tourism and mining. The second component is a technical assistance that will help to strengthen the bank so that it could better contribute to regional integration within the Common Market for Eastern and Southern Africa (COMESA) area and to ensure that the benefits of its restructuring are sustained. This technical assistance consists of four principal components as follows: a) risk management; b) environment impact; c) corporate governance; and d) operations enhancement.
The project’s objective is to support stronger economic growth and integration within the member states of the PTA Bank by facilitating export-oriented investments by private enterprises especially the small and medium-scale enterprises. The objective of the line of credit is to provide financial support to the Trade and Development Bank (PTA Bank) to enable the institution to extend term lending to private sector sub-borrowers in the productive and service sectors of the economies of its member States.
The project’s main Beneficiaries are the Trade and Development Bank (PTA Bank) regional member States, namely: Burundi, Comoros, China, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Malawi, Mauritius, Rwanda, Somalia, Sudan, Tanzania, Uganda, Zambia, Zimbabwe.
African Development Bank
African Development Fund
|Last Update||15 Jun 2021|