TRADE
The African Development Bank (AfDB) has approved a $100-million unfunded risk participation agreement (RPA) for FirstRand Bank (FRB), under which the two banks will share the default risk on a portfolio of trade transactions originated by issuing banks in Africa and confirmed by FRB. The facility would help address critical market demand for trade finance in Africa by working through financial institutions to provide support across vital economic sectors such as industry, services, agribusiness and manufacturing.
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