|Approval Date||07 Dec 2016|
|Signature Date||09 Mar 2017|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
The present projet is a USD 180 million Line of Credit (LoC) to Eastern and Southern Africa Trade and Development Bank (PTA Bank), a regional Development Finance Institution (DFI) established in 1985 by African and non-regional sovereigns institutional shareholders. The Bank is an equity holder of PTA with an equity commitment of close to UA 62.4 million. PTA provides project and trade finance facilities to private sector operators. This transaction is the fifth LoC provided to PTA with a total debt exposure amounting to USD 145 Million. The LoC will be used to finance projects in infrastructure, agriculture, manufacturing, health and transport and logistics. It is envisaged that 20% of the financing will support fragile states although this is not supported by the indicative pipeline.
The project objective is to enable PTA to extend the average maturity of its loans from 7.5 to 10 years. It is anticipated that the LoC will generate about 860 jobs of which close to 1/3 are for women.
The main beneficiaries are PTA Bank, Eastern and Southern Central African States and one non-eligible country (Mauritius).
African Development Bank
|Last Update||18 Feb 2020|