The Treasury has taken up a new $750 million commercial loan from the Eastern and Southern Africa Trade and Development Bank (TDB) - formerly PTA Bank
in order to retire a syndicated loan of the same amount.
At the time of writing it was also finalising a similar line of financing to PTA Bank
, the financial arm of the Common Market for Eastern and Southern Africa (COMESA) and a $20m line of credit to a Mozambique development institution.
The war-torn nation joined the Southern and Eastern African Trade and Development Bank by signing the charter of the bank in December 2016 and was eventually endorsed by the Board of Directors in March 2017, becoming the 21st member of the Trade and Development Bank, formerly known as PTA Bank
Implementing Agency: PTA BANK
- EASTERN AND SOUTHERN AFRICAN TRADE AND DEVELOPMENT BANK
Regional African institu- tions, such as the African Develop- ment Bank, Afreximbank and PTA Bank
, working closely with interna- tional banks, can provide solutions.
We are very grateful to our High Patron, the AfDB, for their unwavering support in this initiative and our thanks also go to our sponsors: MasterCard, Ecobank, Nedbank, African Guarantee Fund, PTA Bank
, CRDB Bank, Arton Capital and Qatar Airways for partnering with us and enabling us to reward outstanding achievements, commend best practices and celebrate excellence in African banking".
In the first instance, we have just signed partnership agreements with reputed financial institutions, including regional agencies like PTA Bank
and Afrexim, to increase participation in cross-border deals, particularly in Africa while building capacity to eventually source our own deals in these markets.
The European Investment Bank (EIB) has announced that it has joined forces with East Africa-based regional development body, PTA Bank
, for a lending initiative.
Moody's Investors Service, ("Moody's") has today affirmed the Ba1 issuer rating and long-term senior unsecured foreign-currency debt rating of the Eastern and Southern African Trade and Development Bank, a multilateral development bank (MDB) commonly known as PTA Bank
5 billion financial institution that does trade and project financing and only last week I signed transfer agreements for the COMESA Infrastructure Fund to the PTA Bank
According to the MOU, Ex-Im Bank and PTA Bank
will explore options for utilizing up to USD 100m in Ex-Im Bank medium- and long-term loan guarantees and/or direct loans to finance US exports to sub-Saharan Africa that target both diaspora businesses in the US and PTA Bank
's member states.
The African Development Bank (AfDB) has approved a package to finance projects in member states of the Eastern and Southern African Trade and Development Bank, known as the PTA Bank
, consisting of US$20 million in additional equity and a US$50 million line of credit.