Browsing: Line of Credit (LOC)

The African Development Bank (AfDB) and the Botswana Development Corporation (BDC) signed a Line of Credit (LOC) totalling $80 million to help scale up key investments in Botswana.

The AFDB said in a statement that the Botswana Development Corporation will only lend to specific target groups, focusing on industrialisation including transport,  manufacturing and service sectors that have important development impact.

The repayment period will be over 10 years, including a two-year grace period.

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“The African Development Bank is excited to collaborate with BDC to promote private sector development, as well as support broad-based economic growth in Botswana,” said  Mohamed Kalif, Manager, Financial Intermediation and Inclusion Division signing on behalf of the Bank.

Kalif said that the facility is the largest to be extended to a financial institution in Botswana and that the Bank is very proud of its partnership with