IFC and East Africa Bank unveils US$5m trade finance guarantee to support businesses in Djibouti

DJIBOUTI – The International Finance Corporation (IFC), a member of the World Bank Group, has announced a US$5 million trade finance guarantee facility to Djibouti- based East Africa Bank (EAB) to help local companies engage in cross-border trade. The support is a vital engine of economic growth that has been strained by the COVID-19 pandemic, IFC’s trade finance facility guarantee of up to US$5 million under its Global Trade Finance Program (GTFP) will help EAB provide financing to importers and exporters in Djibouti, supporting the local economy and helping maintain…

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Federal government of Nigeria secures US$700m from IDA for its Surwash programme

NIGERIA – The International Development Association (IDA), a subsidiary of the World Bank, has granted Nigeria a US$700 million loan for implementation of its Sustainable Urban and Rural Water Supply, Sanitation and Hygiene (Surwash) Programme. The loan will finance access to water, sanitation and hygiene (WASH) for 6 million people, mainly in rural areas and small towns. The World Bank funding includes US$300 million for the development of water, sanitation and hygiene infrastructure. The Federal Government of Nigeria plans to build and rehabilitate water points and drinking water systems for…

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