Stock & Analyst Updates | |
Stock & Analyst Updates | |
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Wednesday, February 20,
2019 09:08AM / NSE
We wish to notify our shareholders and other
stakeholders that the Arab Bank for Economic Development in Africa (BADEA) has
extended $65 million credit facilities to Sterling Bank Plc. The facilities
were granted through two loan agreements signed on Monday, 18th February, 2019
in Cairo, Egypt.
The Director General of BADEA, H.E. (Dr.) Sidi Ould
TAH signed the loan agreements on behalf of BADEA while Mr. Yemi Odubiyi,
Executive Director, Corporate & Investment Banking signed on behalf of
Sterling Bank.
The first line of credit which amounts to $15 million
is for the financing of private sector projects while the second facility which
amounts to $50 million is for financing Arab exports to African importers, as
part of BADEA's programme for financing foreign trade.
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