Ghana’s Ministry of Finance signed an innovative EKN/ECIC-covered facility for a stretch of rail on 14 June. The loan has provided a viable template for African buyers struggling to drum up the 15% down payment financing traditionally required for ECA-backed deals given the private insurance market's stifled response to residual risk on the continent due to the Covid-19 crisis.
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Recent copper and cobalt mine development financings in the DRC by EKN and SEK from Sweden and African development bank TDB are likely to act as encouragement to other financial institutions looking to become more active in the country.