Trade : IFC announces $140 million trade finance facilities with 7 Ecobank subsidiaries

To boost trade and economic growth in Africa, IFC has announced trade finance facilities with Ecobank Transnational Incorporated subsidiaries in 7 African countries (Burkina Faso, Cameroon, Côte d’Ivoire, Ghana, Malawi, Mali, Togo).

IFC’s $140 million trade finance guarantee mechanism will help strengthen the trade finance operations of the participating subsidiaries and leverage ETI’s extensive presence in Africa to assist in developing new trade partnerships for businesses in these countries. Strengthening Africa’s trade lines will help reduce the continent’s reliance on imports and contribute to economic development.

This trade line is part of IFC’s $1 billion African Trade and Supply Chain Finance Program (ATRI), which supports Africa’s regional trade development.