African Development Bank Group approves €25 million trade finance facility to enable Credit Communautaire d'Afrique-Bank expand support to SMEs
Cameroon, Dec. 2 -- The Board of Directors of the African Development Bank Group has approved financing of €25 million to help Cameroon's Credit Communautaire d'Afrique-Bank (CCA-Bank) expand its trade finance offerings to small and medium-sized enterprises (SMEs) and other businesses.The facility, approved at a Board session held on 1 December in Abidjan, will be deployed as a Transaction Guarantee, a Bank Group product that provides risk cover to eligible African banks for their trade finance transactions."The facility will support Cameroon's economy by facilitating imports of equipment for the industrial, agro-industrial and telecommunications sectors. It will also enable the African Development Bank to provide up to a 100 percent ...
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