AfDB grants over €50 million to support SMEs in COMESA

Oct 04, 2013

PTA Bank has received a $50 million (€ 36.7 million) line of credit and $20 million in equity from the African Development Bank (AfDB) to contribute to the development of the private sector in the Common Market for Eastern and Southern Africa (COMESA).

PTA Bank has received a $50 million (€ 36.7 million) line of credit and $20 million in equity from the African Development Bank (AfDB) to contribute to the development of the private sector in the Common Market
for Eastern and Southern Africa (COMESA).


This envelope will allow PTA Bank to finance small and medium-sized enterprises (SMEs) and regional infrastructure projects.

It will also help mobilize financial resources for the development of the free trade area, which would ultimately contribute to economic development and generate employment opportunities.

The financial package to PTA Bank should therefore have a positive impact on inclusive growth, private sector development and job creation.

PTA Bank, headquartered in Bujumbura (Burundi), was created in 1985 as a bank for the financing of COMESA member states.

The Secretary General of COMESA, Ngwenya, said that SMEs are a key element in achieving economic development among member countries.

He said on the COMESA website that the development of the SME sector is the best way to eradicate poverty at base level.ADNFCR-2976-ID-801645768-ADNFCR