Luanda- The Eastern and Southern Africa Trade and Development Bank (TDB) has said it will grant 500 million US dollars financing to the Angolan government, with the aim to support development projects of social impact.
This was announced Thursday by the CEO of this financial institution, Admassu Tadass, following an audience granted by the Angolan Head of State, João Lourenço, with whom he discussed aspects related to the bank’s operation.
Admassu Tadass explained that the value could increase in the coming years, in order to support the development of Angola, with emphasis on the areas of agriculture, energy, transport, health and commerce.
He added that the banking institution is already working in close collaboration with staff of the Angolan Sovereign Fund, the Finance Ministry and local banks.
“The objective is to participate in Angolan development”, said the banker, for whom the priority is the agriculture sector to provide food security.
The East and Southern Africa Trade and Development Bank is a multilateral financial institution created in 1985 to support economic development in the East and Southern Africa region.
It finances projects and programs in strategic areas such as infrastructure, agriculture, energy, transport, mining, and regional trade.
TDB also aims to promote sustainable development, strengthen trade and facilitate investment in its member countries.
The bank had a robust financial performance in 2024, with total assets exceeding 10 billion US dollars for the first time in its history.
This growth reflects its strategy of investing in critical sectors and promoting projects such as agricultural irrigation in rural communities in Mozambique.
TDB plays a significant role in financing projects linked to natural gas, such as in the Rovuma Basin in Mozambique, contributing to the exploration of resources and the development of regional value chains.AFL/ART/AMP
