PTA
In September 2012, AATIF and TD Bank signed a US$30 million facility agreement. TDB is a multilateral financial institution, owned by eighteen East-African member states, the People’s Republic of China and the African Development Bank. The funding will be used by TDB to expand its agricultural lending activities.
Currently, the Bank’s balance sheet stands at US$ 1.4 billion and has been growing at an average of 30 percent per year over the last decade. TDB's President Mr. Tadesse was delighted to be partnering with AATIF and stated: " We have been an active financier of agriculture projects and with this facility, we shall enhance our support to this critical sector”, adding that agriculture is a major employer and contributor to increased income from trade as it contributes up to 40 percent of the GDP of many African countries. “Agriculture has been a major growth sector over the past decade and plays a key role in mitigating rural-urban migration“, Tadesse said.
The Bank would continue supporting sectors that have a multiplier effect on the economy, and special emphasis would be paid on value addition activities.