China Everbright invites TDB to co-manage $1bn energy fund

(The Mast, Livingstone, 28 August 2019) Zambia's Trade Development Bank has been invited by a Chinese investment group, China Everbright,  as co-managers of a US$1 billion Green Fund which will focus on green energy projects in Africa. The TDB, an Eastern and Southern African developmental bank founded in Zambia 35 years ago, has also signed a $350 million 10-to-20-year export credit line with Japan Bank for International Corporation (JBIC). Admassu Tadesse, the bank’s president and chief executive officer, said with this the TDA, would be glad to join in the development of the Batoka Gorge Hydro-Power Dam Project in Mukuni’s chiefdom. Part of the credit line will be covered by Nippon Export and Investment Insurance (NEXI), one of Japan’s two official export credit agencies, with JBIC.