Citi and AfDB sign risk agreement for African trade

Region:

Middle East & Africa

Dan Sheriff

CEO

The African Development Bank (AfDB) has signed a $50-million Risk Participation Agreement (RPA) with Citi to support trade transactions originated by issuing banks in Africa. The facility will help address critical market demand for trade finance in Africa by providing support for trade in vital economic sectors such as agribusiness and manufacturing. In addition, it will foster financial sector development and regional integration, and contribute to government revenue generation.

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