Reuters
Reuters Staff
by Ahmed Eljechtimi
Morocco’s BCP Bank said it had signed a risk participation agreement worth $100 million on Tuesday with the African Development Bank (AfDB) to promote intra-African trade.
The agreement will help achieve transactions estimated at $700 million in three years, BCP said in a statement.
The two banks also promised to work together to finance intra-African trade in the sectors of industry, agri-food, health and services, it said.
The partnership would “help unlock the growth potential of intra-African trade, a key driver of regional integration,” said Mohammed El Azizi, head of AfDB’s North Africa Regional Development and Business Delivery Office. (Reporting by Ahmed Eljechtimi Editing by Aidan Lewis and Leslie Adler)
