OFID, TDB deepen partnership for private sector development

The OPEC Fund for International Development (OFID) and the Eastern and Southern African Trade and Development Bank (TDB) have signed a cooperation agreement. 

The agreement will support the organizations as they work together to promote the socioeconomic development of the private sector in their beneficiary countries.

It will advance the growing strategic partnership into co-financing, with more information sharing and joint transactions, so that the development impact of the two organizations is maximized, says TDB.

In 2018, the OFID signed a loan agreement of $60 million with TDB to support international trade in the bank’s countries of operation.