The Trade and Development Bank (TDB), a key financial institution for Africa, has secured a significant $100 million investment from British International Investment (BII). This funding aims to bolster economic resilience across the continent by fostering agricultural development and enhancing food security.
Africa currently faces significant economic headwinds, including high inflation, currency devaluation, and rising debt levels. This investment is crucial in supporting trade finance activities, which are vital for businesses operating in key African markets.
The TDB has a strong track record of supporting African economic growth through various initiatives, including trade finance, advisory services, and infrastructure development. Recent examples include a $2 million loan to MPower Ventures Zambia to improve access to affordable energy solutions and a $300 million facility from the World Bank to support renewable energy projects.
This collaboration between BII and the TDB aligns with the UK Government’s commitment to supporting economic and agricultural growth in Africa. By reducing trade barriers and providing businesses with access to vital resources, this partnership aims to empower businesses, particularly small and medium-sized enterprises, and contribute to inclusive economic growth across the continent.
