CDC groups commits an additional US$75m to its trade finance facility with Absa Bank

AFRICA – CDC Group, the UK’s development finance institution and impact investor, has announced an additional US$75 million commitment to its existing trade finance facility with Absa Bank. The investment will provide systemic liquidity across CDC’s African markets and enable local banks to sustain the availability of trade finance, supporting supply chains during the COVID-19 crisis. “CDC remains committed to closing Africa’s trade finance gap of US$110bn to US$120bn. By scaling up our trade finance agreements in Africa, we can protect vital supply chains that make a tangible impact on…

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