bank agreement
bank agreement

The President of Trade and Development Bank (TDB) has commended the African Investment Forum, saying it has made possible for businesses and projects requiring finance across Africa to secure funding.

“This Investment Forum has enabled a number of very serious and committed financial institutions to work together and to support promising deals that are large and require multi-players to come in and help complete the financing required,” Admassu Tadesse said in an exclusive interview with Xinhua on the sidelines of the Africa Investment Forum in Johannesburg on Tuesday.

Tadesse spoke about one of the deals the TDB financially supported during the first Forum last year.

“We were involved in signings and bilateral discussions last year and we have financed close to 400 million dollars of trade between Morocco and Ethiopia, supporting the banks and the business involves the export of fertilizer to Ethiopia,” he said, the Forum has enabled financial institutions and projects seeking investment a platform to meet.

“The idea is to support new investments in Africa, create a vehicle for people to come together and scale up co-financing and deal with bottle necks,” he said.

He said that the bank has been one of the financial institutions that financed the discovery of natural gas in recent years in Mozambique.

Tadesse said the bank would soon be co-funding the construction of a railway project which connects the east coat of Tanzania and countries that border on Tanzania and Central Africa region. Enditem

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