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 Connecting African Growth with Global Capital Absa Corporate and Investment Banking supported Ecobank Transnational Inc.’s (ETI) landmark $125 million Eurobond Tap - the first African financial institution issuance in international markets following the tariff-related US market disruption. Read more DEALS Driving Impact Through Purposeful Capital At Absa Corporate and Investment Banking, we believe that sustainable investment is key to long-term economic resilience. Our support of LeapFrog Investments reflects our belief in creating measurable impact - across ESG, economic, and community outcomes, by backing businesses that are accelerating growth across emerging markets. Read more DEALS Charging Progress in Green Energy The R3.8 billion wind energy transaction will finance the design, development, construction, operation, and maintenance of a 150MW wind project that will generate clean energy for Discovery Green - advancing the just energy transition we are proud to support. Read more
