African Development Bank to review lending strategy
The African Development Bank (AfDB) is looking to increase the profile of loan syndication in its lending strategy.
By increasing its focus on loan syndication, the bank aims to more effectively mobilise financing from the private sector as well as facilitating foreign direct investment in Africa.
“Active resource mobilisation through loan syndication needs to be an institutional priority of AfDB, and it is important that the bank begins to act now,” comments Tim Turner, director of AfDB’s private sector department.
The AfDB will be working with the European Bank of Reconstruction and Development (EBRD) to set up suitable structures that will enable AFDB to be the lender of record in a syndicated loan among a group of possible lenders from the commercial market.
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