The Board of Directors of the African Development Bank (AfDB) Group has approved a 50-million-dollar Risk Participation Agreement (RPA) for Natixis, a French Bank.<\/p>\n\n\n\n
This is contained in a statement by Fahd Belbachir, Senior Communications and External Relations Officer for North Africa, AfDB.<\/p>\n\n\n\n
The agreement would enable Natixis to support African banks and their small and medium-sized enterprise (SME) clients to undertake more regional and international trade.<\/p>\n\n\n\n
Also, the agreement was expected to help achieve a cumulative trade volume of 430 million dollars over the next three years.<\/p>\n\n\n\n
Mohamed El Azizi, Director-General, AfDB, North Africa said the bank was strengthening the relationship among the different stakeholders in the African banking system.<\/p>\n\n\n\n
\u201cWith this new operation, we are strengthening the trusting relationship between the various players in the African banking system in order to accelerate the development of trade.<\/p>\n\n\n\n
\u201cThis is another step toward the realisation of the African Continental Free Trade Area which will unleash the full growth potential of the continent and create new opportunities and jobs.\u201d<\/p>\n\n\n\n
Also, Stefan Nalletamby, Director, AfDB\u2019s Financial Sector Development Department said the bank\u2019s ambition was to help more local banks and their SMEs expanded to new African countries.<\/p>\n\n\n\n
\u201cThis new operation, the second of its kind with Natixis, and with broader geographic coverage, will help catalyse greater intra-African trade flows over the next three years.<\/p>\n\n\n\n
\u201cThe ambition is to help more local banks and their SME clients to expand into new African countries, particularly those with low incomes<\/p>\n\n\n\n
\u201cThe aim is to facilitate their access to financing and help them unleash their potential. This is in the service of greater regional integration.\u201d<\/p>\n\n\n\n
According to the statement, the risk-sharing agreement is intended to meet the growing demand from African markets for trade finance in vital economic sectors \u00adsuch as agribusiness, energy, manufacturing, health, and services.<\/p>\n\n\n\n
It would also help diversify production, creating jobs and additional tax revenues for several African countries.<\/p>\n\n\n\n
Furthermore, the agreement would support African commercial banks and SMEs to ensure stable access to trade finance.<\/p>\n\n\n\n
Also, RPA aligned with the AfDB\u2019s High five strategic priorities.<\/p>\n\n\n
The Board of Directors of the African Development Bank (AfDB) Group has approved a 50-million-dollar Risk Participation Agreement (RPA) for Natixis, a French Bank. This is contained in a statement by Fahd Belbachir, Senior Communications and External Relations Officer for North Africa, AfDB. The agreement would enable Natixis to support African banks and their small […]<\/p>\n","protected":false},"author":2,"featured_media":13613,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[949,241],"tags":[146],"class_list":["post-45983","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-foreign","tag-afdb","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n