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 Absa supports Waco Africa’s growth ambitions with strategic funding solution Absa Corporate and Investment Banking (CIB) has successfully supported Waco Africa with a comprehensive funding package designed to strengthen the group's growth trajectory and support its long-term strategic objectives. Read more DEALS Connecting African ambition to global expertise Absa CIB and UKEF Establish USD100 Million Trade Finance Programme. Absa Corporate and Investment Banking (Absa CIB) has entered into a strategic partnership with UK Export Finance (UKEF) to establish a USD100 million UKEF-backed headroom programme that will support African small and medium enterprises and corporates purchasing UK goods and services. Read more DEALS Financing agricultural growth across Southern Africa Absa Corporate and Investment Banking arranged a USD350m financing facility for United Capital Fertilizer Ltd (UCF) to help scale production and improve fertilizer supply across key African markets. Read more
