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Shelter Afrique secures Sh15.5b loan to boost capitalisation programme

Arab Bank for Economic Development in Africa (BADEA) President H.E. Abdullah KH ALMUSAIBEEH and Shelter Afrique Development Bank (ShafDB) Managing Director Thierno Habib-Hann, exchange documents after the institutions signed a strategic capital increase initiative. Effectively, BADEA has approved a landmark USD 120 million to support the capitalization program of ShafDB.[James Wanzala/Standard]

Shelter Afrique Development Bank (ShafDB) has signed a $120 million (Sh15.5 billion) agreement with the Arab Bank for Economic Development in Africa (BADEA) to support its capital increase subscription initiative.

The Pan-African institution focuses on affordable housing and urban development. The facility will support the ShafDB capitalisation programme and help eligible member States settle and increase their capital subscriptions.

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