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Tag: African Development Bank signs first private sector loan DAL Group to receive up to $75 million

SUDAN: African Development Bank signs first private sector loan, DAL Group to receive up to $75 million

SUDAN: African Development Bank signs first private sector loan, DAL Group to receive up to $75 million

AFRICA, Business
KHARTOUM, Sudan, March 10, 2020/ -- The African Development Bank (www.AfDB.org) has signed an agreement with DAL Group, one of Sudan’s largest conglomerates, for the provision of up to $75 million to improve food security and household incomes in the country. The agreement is the Bank’s first private sector loan to the East African nation.The agreement was signed on Thursday, 5 March at a ceremony held at the Bank’s Sudan Country Office by Dr. Jennifer Blanke, Bank Vice President for Agriculture, Human and Social Development representing the Bank, and DAL Group Chairman Osama Daoud Abdellatif.The financing facility comes in the form of a senior corporate loan of up to the equivalent of $75 million in multiple currencies, which includes $40 million and EUR 30 million.Speaking a...
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