Credit for Nedbank projects

THE African Development Bank (AfDB) and Nedbank signed a US100 million line of credit, in terms of which the AfDB would lend long-term dollars to Nedbank . The loan facility would be used by Nedbank Capital, the investment banking business of the Nedbank Group, for qualifying projects . The AfDBs involvement will fill a gap in the financial services market by providing long-term foreign currency funding that is not currently readily available from commercial sources on acceptable terms,...