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TDB, formerly the PTA Bank, is the financial arm of the Common Market for Eastern and Southern Africa (COMESA).
class="MsoNormalOn Saturdayy, National Treasury Cabinet Secretary Henry Rotich came out to explain the decision amid public outcry, saying the latest move said to be arranged by the Trade and Development Bank (formerly PTA Bank) will only help to lengthen the maturities of the Eurobond debts beyond the 2019 date.
Prosecutors said she was one of two signatories for the PTA bank account and withdrew cash, which she kept.
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 South- ern Africa (COMESA) and a $20m line of credit to a Mozambique development institution.
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.
They include the Trade and Development Bank (formerly PTA Bank) which provides trade finance as well as project finance.
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.
Kee Chong Li Kwong Wing, Chairman, SBM Group, said, "It is a quadruple first in the world finance and it is a major innovation on the African stock exchange: one, it is the first time for the world that a supranational bank (for example the World Bank and the PTA Bank), is opening its shareholding to the public.
7 (SUNA) The Deputy National Prime Minster, the Minister of Investment, Moubarak al-Fadil al-Mahdi, met Monday, at his office the high level delegation of the Preferential Trade Area Bank (PTA Bank) of the COMESA.
"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".