East African Development Bank

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East African Development Bank

A bank that was established in order to promote growth in East Africa. Among other things, it provides loans and other forms of financial assistance for projects thought to contribute to African development. It was established in 1967 by the East African Community and re-chartered in 1980 as an independent entity. It maintains its headquarters in Uganda.
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The EADB also contributes to the development of the region's capital markets through local currency bond issues, listed on the stock markets of its member states.
The EADB supports programmes and practices that enhance agricultural productivity' conserve soil fertility, reduce post-harvest losses, improve nutritional values and ensure market access for both primary and secondary agricultural products.
The EADB has also supported the development of cash crops, taking advantage of East Africa's traditional strength in growing products for export.
The EADB is upgrading the region's transport networks to decrease the cost of doing business
Advisory Services: EADB provides a range of consulting ser vices to businesses that need advice on capital formation, project implementation or cash flow and wealth management.
What differentiates the EADB from other DFIs and financial institutions in the region?
EADB is an institution established by a treaty' among sovereign states and its membership includes other intergovernmental organisations and private enterprises, while the other DFIs are created by national legislation and therefore their mandate is limited to the national jurisdiction of the county' concerned.
This will be the 8th LoC to EADB since its establishment, stressing the long-term strategic partnership between AfDB and EADB.
EADB has effectively implemented a turnaround strategy since 2008/9.
EADB is currently rated B by Fitch and Ba1 by Moody s, with stable outlook.
Duncan Mwesigye, the EADB Uganda country manager said, The future of Rwanda depends on the capacity of SMEs to innovate and access new markets.
Desire Rumanyika, the EADB country manager, clarified that the loan would be disbursed in US dollars and repaid in US dollars, adding that the bank was still trying to see how it could lend in local currency in the future.