{"id":106724,"date":"2023-11-01T15:30:13","date_gmt":"2023-11-01T15:30:13","guid":{"rendered":"https:\/\/www.gtreview.com\/?p=106724"},"modified":"2023-11-01T15:30:13","modified_gmt":"2023-11-01T15:30:13","slug":"absa-and-afdb-agree-us150mn-trade-finance-facility","status":"publish","type":"post","link":"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/","title":{"rendered":"Absa and AfDB agree US$150mn trade finance facility"},"content":{"rendered":"<p>The African Development Bank (AfDB) has approved a US$150mn trade finance facility to help South African lender Absa Group scale up its social and sustainable financing.<\/p>\n<p>The AfDB also agreed a ZAR 1.7bn (US$90mn) sustainability-linked loan to the lender and an investment of ZAR 1bn (US$53.8mn) in Absa\u2019s first social bond issuance, both of which will be classed as qualifying capital.<\/p>\n<p>The trade finance facility will focus on promoting access to funding for businesses, improving trade facilitation in low-income African countries and fostering intra-Africa trade, the AfDB says.<\/p>\n<p>It adds that the financing will enable Absa to increase its social and sustainable lending, particularly to SMEs, and support the provision of long-term affordable housing mortgage financing in South Africa.<\/p>\n<p>Absa Group treasurer Parin Gokaldas says the deal will aid the bank\u2019s efforts to close Africa\u2019s trade finance gap.<\/p>\n<p>\u201cThe financial close of this agreement will support our ambition to be an active force for good and strengthens our relationship with the AfDB,\u201d Gokaldas says.<\/p>\n<p>Leila Mokaddem, director general of the AfDB\u2019s Southern Africa region, adds that the \u201ccomprehensive financing package will unlock financing including for youth and female entrepreneurs in South Africa, as well as for underserved female borrowers in the affordable housing sub-sector\u201d.<\/p>\n<p>Back in 2021, the International Finance Corporation provided <a href=\"https:\/\/www.gtreview.com\/news\/africa\/94811\/\"><strong>Africa\u2019s first green loan to Absa<\/strong><\/a> to fund renewable energy projects, with the bank\u2019s interim group CEO Jason Quinn affirming its ambitions to be a leader in financing sustainable projects in South Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The African Development Bank (AfDB) has approved a US$150mn trade finance facility to help South African lender Absa Group scale up its social and sustainable financing. The AfDB also agreed a ZAR 1.7bn (US$90mn) sustainability-linked loan to the lender and an investment of ZAR 1bn (US$53.8mn) in Absa\u2019s first social bond issuance, both of which &#8230;<\/p>\n","protected":false},"author":156077,"featured_media":91764,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":"[]","apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[2],"tags":[20775,288,20443,26903,26904,12949],"acf":[],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v21.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Absa and AfDB agree US$150mn trade finance facility | Global Trade Review (GTR)<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Absa and AfDB agree US$150mn trade finance facility\" \/>\n<meta property=\"og:description\" content=\"The African Development Bank (AfDB) has approved a US$150mn trade finance facility to help South African lender Absa Group scale up its social and sustainable financing. The AfDB also agreed a ZAR 1.7bn (US$90mn) sustainability-linked loan to the lender and an investment of ZAR 1bn (US$53.8mn) in Absa\u2019s first social bond issuance, both of which ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/\" \/>\n<meta property=\"og:site_name\" content=\"Global Trade Review (GTR)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/GlobalTradeReview\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-01T15:30:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.gtreview.com\/wp-content\/uploads\/2020\/09\/Durban-South-Africa-Cargo-Ships-Port_News.gif\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"752\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/gif\" \/>\n<meta name=\"author\" content=\"Jenny Messenger\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@gtreview\" \/>\n<meta name=\"twitter:site\" content=\"@gtreview\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jenny Messenger\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/\"},\"author\":{\"name\":\"Jenny Messenger\",\"@id\":\"https:\/\/www.gtreview.com\/#\/schema\/person\/e5cebd29eb67c47b710240b16cff6d1c\"},\"headline\":\"Absa and AfDB agree US$150mn trade finance facility\",\"datePublished\":\"2023-11-01T15:30:13+00:00\",\"dateModified\":\"2023-11-01T15:30:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/\"},\"wordCount\":262,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.gtreview.com\/#organization\"},\"keywords\":[\"Absa Group\",\"African Development Bank (AfDB)\",\"Jason Quinn\",\"Leila Mokaddem\",\"Parin Gokaldas\",\"South Africa\"],\"articleSection\":[\"Africa\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/\",\"url\":\"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/\",\"name\":\"Absa and AfDB agree US$150mn trade finance facility | Global Trade Review (GTR)\",\"isPartOf\":{\"@id\":\"https:\/\/www.gtreview.com\/#website\"},\"datePublished\":\"2023-11-01T15:30:13+00:00\",\"dateModified\":\"2023-11-01T15:30:13+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.gtreview.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Absa and AfDB agree US$150mn trade finance facility\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.gtreview.com\/#website\",\"url\":\"https:\/\/www.gtreview.com\/\",\"name\":\"Global Trade Review (GTR)\",\"description\":\"The world\u2019s leading trade finance media company, providing news, events and services for companies and individuals involved in global trade\",\"publisher\":{\"@id\":\"https:\/\/www.gtreview.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.gtreview.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.gtreview.com\/#organization\",\"name\":\"Global Trade Review (GTR)\",\"url\":\"https:\/\/www.gtreview.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.gtreview.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.gtreview.com\/wp-content\/uploads\/2020\/04\/63af269a-84c0-46d4-a0ae-3d7ec785b537_GTR_logo_small_H5mm.png\",\"contentUrl\":\"https:\/\/www.gtreview.com\/wp-content\/uploads\/2020\/04\/63af269a-84c0-46d4-a0ae-3d7ec785b537_GTR_logo_small_H5mm.png\",\"width\":506,\"height\":190,\"caption\":\"Global Trade Review (GTR)\"},\"image\":{\"@id\":\"https:\/\/www.gtreview.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/GlobalTradeReview\",\"https:\/\/twitter.com\/gtreview\",\"https:\/\/www.instagram.com\/globaltradereview\/\",\"https:\/\/www.linkedin.com\/company\/exporta\/\",\"https:\/\/www.youtube.com\/user\/ExportaGroupEvents\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.gtreview.com\/#\/schema\/person\/e5cebd29eb67c47b710240b16cff6d1c\",\"name\":\"Jenny Messenger\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.gtreview.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/19c3b592ab49078442b529eb029814bb?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/19c3b592ab49078442b529eb029814bb?s=96&d=mm&r=g\",\"caption\":\"Jenny Messenger\"},\"description\":\"Jenny joined GTR as a reporter in 2022. She writes news and features on trade finance and is particularly interested in stories with a climate change and sustainability angle. Jenny previously worked as a journalist covering the insurance sector and has a PhD in Classics. \\\"\",\"url\":\"https:\/\/www.gtreview.com\/news\/author\/jmessengergtreview-com-2-2-2-2-2-2-2-2-2-2-2-2-2-2\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Absa and AfDB agree US$150mn trade finance facility | Global Trade Review (GTR)","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/","og_locale":"en_GB","og_type":"article","og_title":"Absa and AfDB agree US$150mn trade finance facility","og_description":"The African Development Bank (AfDB) has approved a US$150mn trade finance facility to help South African lender Absa Group scale up its social and sustainable financing. The AfDB also agreed a ZAR 1.7bn (US$90mn) sustainability-linked loan to the lender and an investment of ZAR 1bn (US$53.8mn) in Absa\u2019s first social bond issuance, both of which ...","og_url":"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/","og_site_name":"Global Trade Review (GTR)","article_publisher":"https:\/\/www.facebook.com\/GlobalTradeReview","article_published_time":"2023-11-01T15:30:13+00:00","og_image":[{"width":900,"height":752,"url":"https:\/\/www.gtreview.com\/wp-content\/uploads\/2020\/09\/Durban-South-Africa-Cargo-Ships-Port_News.gif","type":"image\/gif"}],"author":"Jenny Messenger","twitter_card":"summary_large_image","twitter_creator":"@gtreview","twitter_site":"@gtreview","twitter_misc":{"Written by":"Jenny Messenger","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/#article","isPartOf":{"@id":"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/"},"author":{"name":"Jenny Messenger","@id":"https:\/\/www.gtreview.com\/#\/schema\/person\/e5cebd29eb67c47b710240b16cff6d1c"},"headline":"Absa and AfDB agree US$150mn trade finance facility","datePublished":"2023-11-01T15:30:13+00:00","dateModified":"2023-11-01T15:30:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/"},"wordCount":262,"commentCount":0,"publisher":{"@id":"https:\/\/www.gtreview.com\/#organization"},"keywords":["Absa Group","African Development Bank (AfDB)","Jason Quinn","Leila Mokaddem","Parin Gokaldas","South Africa"],"articleSection":["Africa"],"inLanguage":"en-GB","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/","url":"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/","name":"Absa and AfDB agree US$150mn trade finance facility | Global Trade Review (GTR)","isPartOf":{"@id":"https:\/\/www.gtreview.com\/#website"},"datePublished":"2023-11-01T15:30:13+00:00","dateModified":"2023-11-01T15:30:13+00:00","breadcrumb":{"@id":"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.gtreview.com\/news\/africa\/absa-and-afdb-agree-us150mn-trade-finance-facility\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.gtreview.com\/"},{"@type":"ListItem","position":2,"name":"Absa and AfDB agree US$150mn trade finance facility"}]},{"@type":"WebSite","@id":"https:\/\/www.gtreview.com\/#website","url":"https:\/\/www.gtreview.com\/","name":"Global Trade Review (GTR)","description":"The world\u2019s leading trade finance media company, providing news, events and services for companies and individuals involved in global trade","publisher":{"@id":"https:\/\/www.gtreview.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.gtreview.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/www.gtreview.com\/#organization","name":"Global Trade Review (GTR)","url":"https:\/\/www.gtreview.com\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.gtreview.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.gtreview.com\/wp-content\/uploads\/2020\/04\/63af269a-84c0-46d4-a0ae-3d7ec785b537_GTR_logo_small_H5mm.png","contentUrl":"https:\/\/www.gtreview.com\/wp-content\/uploads\/2020\/04\/63af269a-84c0-46d4-a0ae-3d7ec785b537_GTR_logo_small_H5mm.png","width":506,"height":190,"caption":"Global Trade Review (GTR)"},"image":{"@id":"https:\/\/www.gtreview.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/GlobalTradeReview","https:\/\/twitter.com\/gtreview","https:\/\/www.instagram.com\/globaltradereview\/","https:\/\/www.linkedin.com\/company\/exporta\/","https:\/\/www.youtube.com\/user\/ExportaGroupEvents"]},{"@type":"Person","@id":"https:\/\/www.gtreview.com\/#\/schema\/person\/e5cebd29eb67c47b710240b16cff6d1c","name":"Jenny Messenger","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.gtreview.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/19c3b592ab49078442b529eb029814bb?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/19c3b592ab49078442b529eb029814bb?s=96&d=mm&r=g","caption":"Jenny Messenger"},"description":"Jenny joined GTR as a reporter in 2022. She writes news and features on trade finance and is particularly interested in stories with a climate change and sustainability angle. Jenny previously worked as a journalist covering the insurance sector and has a PhD in Classics. \"","url":"https:\/\/www.gtreview.com\/news\/author\/jmessengergtreview-com-2-2-2-2-2-2-2-2-2-2-2-2-2-2\/"}]}},"_links":{"self":[{"href":"https:\/\/www.gtreview.com\/wp-json\/wp\/v2\/posts\/106724"}],"collection":[{"href":"https:\/\/www.gtreview.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gtreview.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gtreview.com\/wp-json\/wp\/v2\/users\/156077"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gtreview.com\/wp-json\/wp\/v2\/comments?post=106724"}],"version-history":[{"count":0,"href":"https:\/\/www.gtreview.com\/wp-json\/wp\/v2\/posts\/106724\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gtreview.com\/wp-json\/wp\/v2\/media\/91764"}],"wp:attachment":[{"href":"https:\/\/www.gtreview.com\/wp-json\/wp\/v2\/media?parent=106724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gtreview.com\/wp-json\/wp\/v2\/categories?post=106724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gtreview.com\/wp-json\/wp\/v2\/tags?post=106724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}