EIB, TBD agree $120m climate action facility

The Eastern and Southern African Trade and Development Bank (TDB) and the European Investment Bank (EIB) have signed a $120 million 15-year SME and climate action facility. 

The facility will be used towards financing the cost of projects by the private sector, including small and medium-sized enterprises, with a special focus on climate action, renewable energy and energy efficiency.

This is the second line of credit to be extended by EIB to TDB, the first one having been signed in 2014 for €80 million with a focus on SMEs and mid-cap companies, and already having created hundreds of jobs.