{"id":38937,"date":"2021-12-16T14:03:46","date_gmt":"2021-12-16T14:03:46","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=38937"},"modified":"2021-12-16T14:03:47","modified_gmt":"2021-12-16T14:03:47","slug":"afdb-approves-line-of-credit-to-west-africa-bank","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/afdb-approves-line-of-credit-to-west-africa-bank\/","title":{"rendered":"AfDB approves line of credit to West Africa Bank"},"content":{"rendered":"<p>African Development Bank Board has approved line of credit of \u20ac70 million and $24 million equity investment to West African Development Bank.<\/p>\n\n\n\n<p>The line of credit will support businesses in the West African Economic and Monetary Union, particularly in job-creating sectors<\/p>\n\n\n\n<p>The Board of Directors of&nbsp;&nbsp;AfDB made the approval.<\/p>\n\n\n\n<p>The line of credit will support businesses in the West African Economic and Monetary Union, particularly in job-creating sectors such as agribusiness, renewable energy, health, and information and telecommunication, which were drastically affected by the Covid-19 pandemic.<\/p>\n\n\n\n<p>The \u20ac70 million forms part of a \u20ac150 million facility, which will be co-financed by Cassa Depositi e Prestiti (\u20ac60 million) and FINDEV (\u20ac20 million).<\/p>\n\n\n\n<p>The $24 million equity investment is part of a capital increase transaction, which will allow the African Development Bank to increase its shareholding from 0.55% to 1%, and therefore retain its seat on the Board of Directors of the West African Development Bank.<\/p>\n\n\n\n<p>In addition, the African Development Bank will assist the West African Development Bank, through funding from the Women Entrepreneurs Finance Initiative (We-Fi) to set up a technical assistance program to mainstream gender aspects in its project review process and to promote women\u2019s entrepreneurship. The project should help to create or consolidate at least 5,900 jobs (including 2,000 to women).<\/p>\n\n\n\n<p>The facility is strongly aligned with three of the Bank High 5 strategic priorities, namely Feed Africa, Industrialize Africa and Improve the quality of life of Africans.<\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-38937\" data-postid=\"38937\" class=\"themify_builder_content themify_builder_content-38937 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>African Development Bank Board has approved line of credit of \u20ac70 million and $24 million equity investment to West African Development Bank. The line of credit will support businesses in the West African Economic and Monetary Union, particularly in job-creating sectors The Board of Directors of&nbsp;&nbsp;AfDB made the approval. The line of credit will support [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":14333,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[949],"tags":[146,66],"class_list":["post-38937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-afdb","tag-investment","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AfDB approves line of credit to West Africa Bank - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/afdb-approves-line-of-credit-to-west-africa-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AfDB approves line of credit to West Africa Bank - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"African Development Bank Board has approved line of credit of \u20ac70 million and $24 million equity investment to West African Development Bank. 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