Row rect Shape Decorative svg added to bottom DEALS A bridge between our capabilities and Africa's potential Absa | Corporate and Investment Banking > Insights and Events > A bridge between our capabilities and Africa’s potential SHARE Absa signs US$200 million funding facility with China Development Bank Absa Bank SA and China Development Bank, China's largest overseas lender and the world's largest Development Finance Institution, have signed a three-year, US$200 million working capital facility. The facility enables Absa Bank to further diversify its hard currency funding sources at comparatively competitive funding cost, while supporting our ambition to be a leading Pan-African bank. This transaction also demonstrates the good momentum and success for Absa’s growth-centred China strategy. CDB is China's largest overseas lender and the world's largest Development Finance Institution (DFI). CDB is currently a key strategic partner for Absa and is becoming increasingly more important in the build-out of Absa's China strategy. This transaction, which was signed in the context of recent global banking sector turmoil, demonstrates CDB's confidence in Absa's strategy and business performance, as well as their continuing commitment to Africa's economic growth and development. With the trust and momentum gained in concluding this transaction, Absa will continue to build and deepen our relationship with CDB and its major clients in Africa and China. Contact us To learn more about our commitment to a growth-centred Africa-China partnership. https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Strengthening Africa’s edible oil supply chain through structured trade finance Absa Corporate and Investment Banking (CIB) has successfully concluded a US$45 million Structured Trade Finance facility for White Horse Commodities FZCO (WHC) – headquartered in the UAE, is a key strategic fuel and cooking oil procurement arm of the Mount Meru Group. Read more DEALS Clean Power. Multiplied. Accelerating solar infrastructure with R2.1 billion for a resilient, diversified energy market. Absa Corporate and Investment Banking has jointly arranged and financed Anthem’s 475 MW Notsi Solar PV Project, a landmark solar development led by Anthem - a leading independent power producer in South Africa. The total cost for the Notsi Solar PV Project was circa R8.7 billion Read more DEALS Strengthening sustainable mining success Absa Corporate and Investment Banking has supported Tharisa Minerals (Pty) Ltd in advancing its next phase of growth through a multi-currency Platinum Group Metals (PGM) offtake-based Prepayment Facility. Read more
