Printer Friendly

EIB launches African lending programme.

Global Banking News-February 12, 2015--EIB launches African lending programme

(C)2015 ENPublishing -

Global Banking News - 12 February 2015

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.

The EUR160m programme is to focus on investment across eastern and southern Africa and each of the participating firms have provided EUR80m to the initiative.

Under the new initiative, agribusiness, energy, manufacturing and service sector companies will be able to access loans in a range of local and foreign currencies.

Pim van Ballekom, EIB vice president, said, 'The new engagement announced today between the European Investment Bank and PTA Bank reflects our strong shared commitment to support private sector enterprise activity in Africa. This new lending programme represents the largest-ever engagement to support business investment in Africa by the European Investment builds on past lending in Africa with other leading local banks and enable support for investment by larger companies for the first time.'

[Editorial queries for this story should be sent to]

((Distributed via M2 Communications -

COPYRIGHT 2015 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2015 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:Feb 12, 2015
Previous Article:Societe Generale reports profit.
Next Article:IBM to help develop mobile banking app for Ratnakar Bank.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters