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Ecobank signs $200 mln trade loan with African Development Bank
May 22, 2014 / 3:02 PM / 3 years ago

Ecobank signs $200 mln trade loan with African Development Bank

LAGOS, May 22 (Reuters) - Ecobank has signed a $200 million facility with African Development Bank to boost intra-regional trade in Africa, the Pan-African lender said on Thursday.

“This facility will greatly support international and intra-regional trade in Africa,” Ecobank CEO Albert Essien said in a statement.

The facility comprises a trade facilitation and origination loan and will support around $1.8 billion of trade transactions in Africa over a 3-1/2 years, from local corporates and small and medium sized businesses, the bank said.

Reporting by Chijioke Ohuocha; Editing by Tim Cocks

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