According to the Bank’s website, the proposed facility is a USD 25 million Trade Finance (TF) Package consisting of: (i) a USD 15 million Trade Finance Line of Credit (TFLOC) to support SMEs and indigenous corporates and (ii) a USD 10 million Transaction Guarantee (TG) facility to support confirmation of trade finance transactions of FSDH. The TG Facility will allow the Bank to provide up to 100% guarantee to Confirming Banks (CBs) for the non-payment risk arising from the confirmation of letters of credit and similar trade finance instruments issued by FSDH. The TFLOC will have a tenor of 3.5 years and the TG will have a tenor of 3 years.
The facility will contribute to mobilizing significant financial resources for SMEs and local enterprises in manufacturing and industrial sector ultimately enhancing deepening of value chains and diversifying productive capacity and ultimately stimulating growth.
ACCESS TO INFORMATION
You can submit an information request for project information at: https://www.afdb.org/en/disclosure-and-access-to-information/request-for-documents. Under the AfDBÕs Disclosure and Access to Information policy, if you feel the Bank has omitted to publish information or your request for information is unreasonably denied, you can file an appeal at https://www.afdb.org/en/disclosure-and-access-to-information/appeals-process.
ACCOUNTABILITY MECHANISM OF AfDB
The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing email@example.com, firstname.lastname@example.org, email@example.com, and/or firstname.lastname@example.org. You can learn more about the IRM and how to file a complaint at: https://www.afdb.org/en/independent-review-mechanism/