IVORY COAST, July 24 -- CRDB Bank has secured a 50 million US dollars Trade Finance Transaction Guarantee facility approved by the African Development Bank (AfDB) to support its trade finance activities.

This facility enables the Bank to provide up to 100 per cent guarantees to confirming banks against non-payment risks from Letters of Credit and similar trade finance instruments issued by CRDB.

AfDB Head of Trade Finance, Lamin Drammeh, said that supporting trade in Africa is a key priority for the bank.

“Trade finance is vital for Africas economic development, facilitating domestic and international trade, driving growth, and promoting regional integration.

“We are pleased to partner with CRDB, a strong collaborator with...