Zambia - Line of credit to first national Bank subsidiary, First National Bank of Zambia Limited


Project Summary

Approval Date 12 Dec 2012
Signature Date 26 Mar 2015
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 30,516,379.79
Status Completion

Project General Description

The project aims to provide a medium-term, multi-currency line of credit of up to the equivalent of USD 300 million to FirstRand Bank Limited, which is a wholly-owned subsidiary of the South Africa based FirstRand Limited. The proceeds of the Facility will be used for funding projects in a number of sectors and across a number of African countries.

Project Objectives

The project objective is to provide a medium-term, multi-currency line of credit of up to the equivalent of USD 300 million to FirstRand Bank Limited.

Beneficiaries

The direct beneficiary of the project is FirstRand Bank.

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-ZM-HAB-022
Last Update 05 Oct 2022

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Contact Details

Email private-sector@afdb.org

Geographic Location

Country Zambia
Coordinates Location Name
-15.4067 28.2871 Lusaka