|Approval Date||02 Oct 2013|
|Signature Date||17 Dec 2013|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
The Project is a support to strengthen the balance sheet of the Eastern and Southern African Trade and Development Bank (PTA Bank). This will enhance the bank’s ability to mobilize financial resources from local and international capital markets to meet a growing demand for funding in the TFTA, which includes some of the fastest growing economies in Africa. In addition, the project will facilitate the subscription of new Class B shares in the PTA Bank. This should play a catalytic role in encouraging other non-regional shareholders to boost the bank's capitalization.
The main objective of the poroject is to strengthen the balance sheet of the Eastern and Southern African Trade and Development Bank (PTA Bank) through the subscription of USD 20 million new class B shares; and an LOC of USD 50 million to finance investment projects in PTA Bank’s regional 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
|Last Update||22 Nov 2020|