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Highlights – Board Meeting of 31 October 2018
The above-mentioned project is a Risk Participation Agreement (RPA) that seeks to contribute to reducing the trade finance gap in Africa and to promote inclusive and diversified economic growth through support for industrialization, increased intraAfrican trade and greater regional integration. Executive Directors welcomed the project but urged Management to ensure that the right beneficiaries are reached, namely African Issuing Banks, SMEs and local enterprises in 26 RMCs, including low-income countries (LICs). They also called on the Bank to guard against possible market distortions, ensure that the transaction helps to boost intra-African trade and RMCs exports, to monitor the development outcomes, and ensure that the expertise of NATIXIS in money laundering is transferred to the African issuing banks. At the end of its deliberations, the Board approved the Natixis Risk Participation.