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Nairobi/ Rome, 18 November 2020 – Cassa Depositi e Prestiti (CDP), in its role as the Italian Financial Institution for Development Cooperation, and the Eastern and Southern African Trade and Development Bank (TDB), an African specialized development finance institution, have signed a Memorandum of Understanding (MoU), with the purpose of advancing stable and sustainable economic growth as well as to further economic and trade cooperation between Italy and the region served by TDB.
Building on the SME-focused EUR 50 million CDP impact finance facility extended to TDB earlier this year, this MoU will further strengthen the relationship between the two institutions and broaden their framework of cooperation. More specifically, the partners will examine a variety of financing structures to drive impact in renewable energy, infrastructure, agribusiness, manufacturing, social infrastructure, health, education, transport, and logistics among others.
In this context, CDP and TDB have also agreed to support micro, small and medium enterprises, exchange information on possible transactions of mutual interest, and promote investment opportunities in Eastern and Southern Africa to Italian private sector.
With this agreement, the institutions are seeking to contribute to the achievement of the Sustainable Development Goals (SDGs), promoting access to credit for businesses that will invest in innovation and sustainable production in the sectors of interest.
Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is a multilateral, treaty-based, investment-grade development finance institution, with 40 sovereign and institutional shareholders and assets of USD 6.7 bn. TDB serves 22 economies in its region, with the mandate to finance and foster trade, regional economic integration and sustainable development.
Cassa Depositi e Prestiti (CDP) is a joint-stock company controlled by the Ministry of Economy and Finance and since 2016 it has been operating internationally as an Italian Financial Institution for Development Cooperation. CDP supports innovation, growth and internationalization of small, medium and large enterprises, public and private infrastructure projects, and investments to support energy efficiency and social development.
Anne-Marie Iskandar, Senior Communications Officer
Corporate Affairs and Investor Relations
Trade and Development Bank
Cassa Depositi e Prestiti
+39 06 4221 4000