The package includes a risk sharing agreement and a trade finance facility.
The AfDB’s investment is expected to generate nearly €300 million in trade for BOA over the next three and a half years. By providing access to commercial finance, particularly for small and medium-sized enterprises (SMEs), the AfDB aims to strengthen financial inclusion and support economic diversification in African countries.
The risk sharing agreement will enable BOA to continue supporting local banks in their international transactions, while the trade finance facility will facilitate access to finance for Moroccan SMEs in key sectors such as health, agriculture, and pharmaceuticals.
The partnership between the AfDB and BOA is expected to contribute to the growth of African economies, generate additional tax revenues, and create new jobs. Bank of Africa, with its extensive network of branches in Morocco and across Africa, is well-positioned to leverage this funding to drive economic development and promote trade within the continent.
RT/Sf/ac/fss/abj/APA