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EIB launches African lending programme.

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

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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 Bank...it builds on past lending in Africa with other leading local banks and enable support for investment by larger companies for the first time.'

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Publication:Global Banking News (GBN)
Date:Feb 12, 2015
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