The African Development Bank (AFDB) has greenlit a EUR 100 mn risk participation agreement with Morocco’sAttijariwafa bank to safeguard trade in the continent amid perceived high risk and toughening criteria, according to a press release. The agreement aims to meet Africa’s increasing demand for trade finance in key sectors, including transport, agriculture, renewable energy, manufacturing, health and telecommunications.

The details:The risk sharing scheme will see Attijariwafa bank support Moroccan banks and their SME clients, allowing them easier access to trade financing, according to the statement.

Stepping in to replace international banks: International banks are reducing their commitment levels on the continent due to toughening regulatory and compliance criteria, AFDB said.

About Attijariwafa Bank: The Moroccon-based bank operates in 26 countries globally, which operates subsidiaries focused on a range of financial businesses, including ins., real estate lending, consumer credit, leasing, asset management, stock market intermediation and private banking.

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