AfDB enters EUR50m Trade Finance Risk Participation Partnership with Societe Generale

The Board of Directors of the African Development Bank Group has approved a €50m (£42.6m) unfunded risk-sharing facility partnership with Societe Generale to further support trade finance activities across Africa. The facility will contribute to reducing Africa's trade finance gap by enhancing Societe Generale's risk bearing capacity by up to fifty percent, enabling it to provide increased confirmation limits to local issuing banks on the continent.