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

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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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