The project will help address critical market demand for trade finance and dollar liquidity by supporting vital economic sectors such as agri-business, chemicals, construction, engineering, food processing, manufacturing and non-traditional exports.

According to theAfDB, the loan will foster financial sector development, provide a platform to support intra-Africa and regional trade and support financing of medium term infrastructure projects, creating robust industries and employment opportunities for youth.

It is also expected to enhance support to local enterprises in Sub-Saharan Africa, whose trading activities are being constrained by shortages in dollar funding. When fully utilised, including roll-overs, the interventions are expected to facilitate circa US $2 billion of trade over a three and a half-year period.

Ecobank Transnational Incorporated has presence in 36 African countries, and has representative offices in Beijing, Dubai, Paris and London.