The agreement is expected to boost intra-Africa trade, promote regional integration, and contribute to the reduction of the trade finance gap in Africa.
The grant agreements were signed on 21 July 2021 by Ethiopian Finance Minister Ahmed Shide, and Kamara.
In a bid to help struggling economies in Africa following the COVID-19 outbreak, the African Development Bank (AfDB) has upped its sales of social bonds with the latest being a Kangaroo bond in Australia worth $463.9 million.
Participants in the meeting, which was hosted by the African Development Bank, brainstormed on joint actions that could help boost a strong and inclusive recovery in Africa.
The package comprises loans of up to $36 million from the EBRD, $18 million from the OPEC Fund, $17.8 million from the AfDB, $23.8 million from the GCF and $18 million from Arab Bank.
