Mozambique: Maputo hosts Annual General Meeting of TDB Group – Watch

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Mozambique: Maputo hosts Annual General Meeting of TDB Group – Watch

2:35 CAT | 31 Jul 2024

Screen grab: Trade and Development Bank Group (TDB Group)/YouTube

Maputo hosted the AGM of the Trade and Development Bank (TDB) Group on Monday to Tuesday, with Prime Minister Adriano Maleiane attending on the latter and presenting the investments made in Mozambique, in times of crisis, by the African bank.

“The TDB Group has provided us with financing for programs and projects in the sectors of agriculture, industry, energy, transport, logistics, among others. For example, in the energy sector, our country benefited from a financing line of US$108 million for the operationalization of the liquefied natural gas (LNG) project in Cabo Delgado,” Adriano Maleiane detailed.

“We also count on financing from the TDB Group for the promotion, processing and export of cereal grains, with a focus on cashew nuts, corn and sesame, contributing to the generation of foreign exchange for our country,” the prime minister added.

This type of initiative “has led to an increase in agricultural production by small farmers, providing financing as a guarantee for all of the farmers’ production”, he further explained.

Regarding agriculture, this Tuesday the TDB Group granted financing of US$100,000 dollars to an agricultural association in Mapai, Gaza province.

“This project is aimed at the main challenges faced by this community in the face of climate change,” TBD president Admassu Tadesse stated. “By providing water pumps that use solar energy and adding the precious liquid to tanks and irrigation infrastructure, this modest project will help with food security, helping with production and empowering women economically.”

Mozambique is a shareholder in TDB, through the National Investment Bank (BNI).

“As a shareholder, we also have the benefit of receiving dividends totalling US$2.4 million since 2015. Our shareholding is in the order of US$10.5 million,” the Minister of Economy and Finance noted.

The meeting was held under the theme “Strategies to Harness Trade and Development to Promote Inclusive Growth and Sustainability in the Region”.

Trade and Development Bank TDB

Established in 1985, TDB is an investment-grade African regional development finance group, with the mandate to finance and foster trade, regional economic integration, and sustainable development, with an asset base of USD 10 billion.

The Bank provides bespoke bilateral and syndicated short and long-term financial solutions in numerous sectors to sovereign, financial institution, and corporate clients, including SMEs, from the region. This includes direct financing via senior and mezzanine debt, equity, guarantees, export credit financing as well as a range of non-financial products such as advisory, asset management and agency services.

The consistent delivery of triple bottom line development impact alongside attractive financial returns has enabled TDB to position itself as a trusted partner to intermediate global and regional capital into the region it serves. TDB has an innovative equity capital structure with 47 sovereign and institutional shareholders, including pension funds, insurance companies, sovereign wealth funds and development finance institutions. The Bank mobilizes debt funding from multilateral and bilateral banks, commercial banks, and investors from across the globe – through capital market issuances, long and short-term lines of credit, risk-sharing agreements, co-financing arrangements, and export credit financing.

The Bank is firmly committed to sustainability principles and well-aligned via its robust ESG framework with the Sustainable Development Goals, the African Union’s Agenda 2063, and the Paris Agreement.

Among its most recent latest recognitions, TDB received Global Finance’s award for ‘Best Bank for Trade Finance in Emerging Markets’ globally, Global Trade Review Leaders in Trade award for ‘Best Development Bank’ globally, as well as African Banker Awards’ ‘DFI of the Year’ and ‘Sustainable Bank of the Year’.

TDB has principal offices in Mauritius and Burundi, regional offices in Kenya, Zimbabwe and Ethiopia, and DR Congo.

TDB is part of TDB Group, which also comprises the Trade and Development Fund (TDF), Eastern and Southern African Trade Advisers Limited (ESATAL), TDB Captive Insurance Company (TCI), and the TDB Academy.

Source: O País / TDB