China Development Bank signs $100m loan with UBA
(28 February 2018 – China) China Development Bank (CDB), the world’s largest development finance institution and United Bank for Africa (UBA), an African bank operating in 19 countries across the continent have announced a $100m seven-year loan agreement to finance SMEs in Africa.
Speaking during the signing ceremony, Tony Elumelu Chairman of UBA Plc, said the fund would boost small and medium scale enterprises across Africa, noting that CDB’s interest in supporting SMEs aligns with UBA’s own vision in growing business across Africa.
The loan will enhance UBA’s capacity to finance SMEs across all 19 countries where UBA currently operates.
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