AfDB and Botswana Development Corporation sign $80m LoC

The African Development Bank and the Botswana Development Corporation (BDC) have signed a letter of credit totaling $80 million to help scale up key investments in the southern African country. 

BDC will on-lend to specific target groups, focusing on industrialization including manufacturing, transport and service sectors that have significant development impact. Repayment will be over ten years, including a two-year grace period.