EADB secures $40mn from OPEC fund to drive SME growth, infrastructure in East Africa
The acting director general of the East African Development Bank (EADB), Mr Benard Mono (left), and the president of the OPEC Fund for International Development, Dr Abdulhamid Alkhalifa (right), sign a $40 million (approximately Sh105.7 billion) loan agreement at the OPEC Fund headquarters in Vienna, Austria. The funding aims to support SMEs and infrastructure development across East Africa. PHOTO|COURTESY
The newly signed agreement positions EADB to further its mission of promoting sustainable economic and social progress across its member states. The inclusion of a $25 million syndicated facility highlights growing confidence in EADB’s capacity to drive meaningful development.
