Britain agrees $100 million finance facility with TDB to boost African trade, food security, others

Development lender, British International Investment, on Monday agreed a US$100 million finance facility with the Eastern and Southern African Trade and Development Bank (TDB) to boost trade finance, farming and food security in the region.

The finance would assist fund trade, including importing and exporting goods on the African continent.

This is according to an article shared by Reuters and checked by Zambia Monitor.

By providing the financing to TDB, local companies would be able to buy essential materials such as fertilisers and machinery, helping boost output and cross-border trade, food security, job creation and economic resilience, the lender said.

Britain’s Minister for Development and Africa, Andrew Mitchell, in his comment said: “This investment underscores the UK government’s commitment to supporting economic and agricultural development across Africa.”

TDB Group President and Managing Director, Admassu Tadesse, said the financing facility was the fourth of its kind to be struck with the lender.

Tadesse expressed confidence that the facility would help the bank address supply chain disruptions and forex shortages.

“It would also help the group play an important role, often working counter-cyclically to contribute to the security of supply of essential commodities in high priority sectors such as agriculture and healthcare,” he concluded.

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