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The African Development Bank Group and the ECOWAS Bank for Investment and Development have signed a deal
Through the deal, the ECOWAS bank will directly fund member states’ commercial banks and local businesses operating in the agriculture and soft commodity sector. Speaking about the credit line, Donkor, said: “This credit facility illustrates EBID’s continued efforts to mobilise adequate resources to honour its commitment to the region’s transformation agenda through supporting and investing in key sectors, in this case, the agribusiness industry.”
The organisation also said the gap in trade finance would be bridged as African development finance institutions improve their collaboration.
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