TDB GROUP WINS BEST ECA SYNDICATED LOAN AT 2024 EMEA FINANCE ACHIEVEMENT AWARDS
Media Contacts:
Trade and Development Bank Group
Anne-Marie Iskandar
Senior Communications Officer
Corporate Affairs and Investor Relations
Anne-Marie.Iskandar@tdbgroup.org
Nairobi, 13 June 2024 – Celebrating one of its most innovative impact-focused debt resource mobilisation deal, the Eastern and Southern African Trade and Development Bank Group (TDB Group) won this past 6th of June 2024 an award for Best Export Credit Agency (ECA) Syndicated Loan from EMEA Finance, at its yearly Charity Dinner where achievement awards are presented for notable achievements in the finance industry in Europe, the Middle East and Africa (EMEA).
The award was for TDB Group’s €349 million MIGA 7-year guaranteed trade finance syndicated loan, which was issued this past December 2023, for a trade finance loan provided by Standard Chartered Bank and Citi as joint arrangers and coordinators, and Standard Chartered Bank as agent. This cooperation comes on the heels of a first-of-its-kind credit enhancement facility which was extended by MIGA in 2020 providing a 10-year EUR 359 million guarantee for commercial bank financing extended to TDB for trade finance, with longer tenors and lower interest rates.
Such guarantees for commercial loans are critical in the prevailing macro-economic environment where supply chain disruptions continue to be prevalent, to contribute to bridging the trade finance gap in Africa, and in turn, advancing sustainable development ambitions.
Previous recognitions from emeafinance include Best Foreign Investment Bank in Kenya in 2019 and Best Supranational Syndicated Loan in 2018.
The Group’s dedication to sustainability, impact, innovation, adaptality and agility has earned the Group several recognitions over the years from other reputable entities such as Global Trade Review (GTR), African Banker Awards, Global Finance, Trade Finance Global, and others.
This year, the Group has received already received several accolades including among others ‘Best Trade Finance Bank in Mauritius’ and ‘Best Bank for Trade Finance in Emerging Markets’ in Global Finance’s Best Trade and Supply Chain Finance 2024 Awards. As well, just last month, TDB Group President and Managing Director, Mr. Admassu Tadesse was named African Banker of the Year on the sidelines of the African Development Bank Annual Meetings.
About TDB
Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is an investment-grade African regional development finance group, with the mandate to finance and foster trade, regional economic integration and sustainable development. With an asset base of USD 10 bn, TDB Group has 25 African member states, which alongside non-regional member countries and institutional investors from Africa, Europe and Asia, form TDB’s community of shareholders.
TDB Group counts several subsidiaries and strategic business units including Trade and Development Banking, TDB Asset Management (TAM), the Trade and Development Fund (TDF), TDB Captive Insurance Company (TCI), the ESATAL fund management company and TDB Academy.
