[ACCI-CAVIE] The Eastern and Southern African Trade and Development Bank (TDB) and the Islamic Corporation for the Development of the Private Sector (ICD) have signed a Memorandum of Understanding (MoU) with the purpose of advancing cooperation in the provision of finance and investment to private sector in their common Member States in Eastern and Southern Africa.
The agreement establishes a framework for both institutions to collaborate with the aim of financing eligible transactions in targeted countries sponsored by the private sector or non-sovereign backed projects. Possible financing solutions to be considered include syndication and co-financing opportunities, risk sharing, bilateral financing and/or medium term liquidity lines of credit, corporate and project finance, and public-private partnerships. Furthermore, the MoU provides for collaboration in developing capital markets through sukuk (trust certificates) structuring and advisory services, as well as for further exploration of possible equity investment opportunities in the capital stock of TDB. TDB and ICD are fellow members of the International Development Finance Club (IDFC), and as such, are aligned in their commitment to provide innovative financial solutions to promote sustainable development investments in Africa – in accordance to the SDG Agenda and Paris Agreement.