Multinational - Third Line of Credit to the Eastern and Southern African Trade and development Bank (PTA Bank)


Project Summary

Approval Date 12 Mar 2008
Signature Date 15 May 2008
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 37,250,439.76
Status Implementation

Project General Description

The PTA Bank Investment Project is a financial support package that is part of Governor's Board Policy aimed at strengthening the institution's capital base and boost its borrowing capacity to meet their targets and operational objectives. The project aims at strengthening the Institution to enable it to increase its development impact in the sub-region. A stronger PTA Bank will help increase capital inflows to the sub-region, thereby supporting the Member States' investment drives to create economic activities capable of generating employment and alleviating poverty. The project intervention consists of three principal components: (i) a contribution of USD 6.8 million in payable capital and USD 40.8 million as callable capital; (ii) a line of credit of USD 50 million; and (iii) Technical Assistance of USD 1.0 million.

Project Objectives

The objective of this financial support package is to assist PTA Bank in its expansion drive and in turn enhance the institution's development impact on the sub-region.

Beneficiaries

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.

Participating Organization

Funding
African Development Bank
Funding
Fund for African Private Sector Assistance

Information

IATI identifier 46002-P-Z1-HAA-016
Last Update 31 Oct 2019

Export

Contact Details

Email private-sector@afdb.org

Geographic Location

Country Multinational