Posted by: tdb November 17, 2021 No Comments

TDB AND KFW TO BOLSTER SUSTAINABLE ECONOMIC DEVELOPMENT IN AFRICA

KfW extends new long-term USD 100 million infrastructure line of credit to TDB

Nairobi/ Frankfurt, 16 November 2021 – KfW Development Bank has extended a new 15-year USD 100 million infrastructure line of credit to the Eastern and Southern African Trade and Development Bank (TDB), and a EUR 220,000 capacity-building grant to support its implementation.

TDB and KfW’s relationship dates back almost a decade. In addition to a special SME-focused job creation grant, this is the third long-term line of credit to be allocated by KfW to be deployed for on-lending to TDB borrowers for the financing of infrastructure in TDB Member States – in line with SDGs, the Paris Agreement and Agenda 2063.

The partnership between both institutions has made it possible to construct and equip new hospitals, build various hydro and wind power plants, expand the use of mobile money, and contribute to the construction of of Tanzania’s standard gauge railway (SGR). Together, these projects have created about 15,000 jobs, contributed to skills transfer, and boosted economic activities including thanks to more and greener transportation and power infrastructure and health care services.

Christoph Tiskens, Director KfW, said: “As a regional promotional bank TDB pushes much-needed infrastructure investments in Eastern and Southern Africa. TDB is continuously expanding its products and services to provide financing to the sectors which are crucial to further develop the economic, environmental and social infrastructure in Subsaharan-Africa. KfW Development Bank on behalf of the German Government will continue to support TDB on its further path as promotional bank.”

Admassu Tadesse, TDB President Emeritus and Group Managing Director, said: “As a result of our strategic partnership with KfW, TDB has been able to finance critical projects with a direct impact on sustainable economic, social and environmental development in the region we serve. We are thrilled to sign this new Facility which will enable us to continue contributing to the expansion of low-carbon infrastructure in our Member States – one of the backbones upon which our region’s sustainable economic development and growth is built.”

Abraham Byanyima, TDB Treasury Executive said “TDB works to catalyze global and regional impact capital into its Member States by synergizing with like-minded institutions like KfW. It is through quality partnerships such as this one that we are able to unlock opportunities to further various development objectives such as building climate-resilient infrastructure, job creation, improvement of our countries’ balance of payments via taxes and forex savings, and more – all at once.

About TDB
Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is a multilateral, treaty-based, investment-grade development finance institution, with 41 sovereign and institutional shareholders and assets of USD 7.2 bn. TDB serves 22 economies in its region, with the mandate to finance and foster trade, regional economic integration, and sustainable development.

TDB is part of the TDB Group, which also comprises TDF (the Trade and Development Fund), ESATF (the Eastern and Southern African Trade Fund), TCI (TDB Captive Insurance), and the TDB Academy.
www.tdbgroup.org

About KfW
KfW Development Bank carries out Financial Cooperation (FC) projects with developing countries on behalf of the German Federal Government. The 1.003 employees in the Head Office and 409 experts in 68 regional offices cooperate with partners all over the world. The objective is to combat poverty, secure peace, protect the environment and the climate as well as ensure fair globalisation. KfW is a competent and strategic adviser for current development policy issues.
www.kfw-entwicklungsbank.de

Media Contacts
Anne-Marie Iskandar, Senior Communications Officer
Corporate Affairs and Investor Relations
Trade and Development Bank
Anne-Marie.Iskandar@tdbgroup.org

Dr. Charis Pöthig, Press Officer
KfW Bankengruppe
charis.poethig@kfw.de

Author: tdb

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