The Eastern and Southern African Trade and Development Bank (TDB) has flagged a $3 million trade financing loans extended to Kenya, Burundi, Zambia and Zimbabwe, terming the disbursement an “exposure”, while setting aside $171,272 to cater for the possibility of default.
The lender disclosed in its 2023 annual financial statement that the outstanding gross trade finance loans issued to member countries stood at $4.77 billion as at December 2023, with impairment losses on the loans at $189.38 million, translating into net loans of $4.58 billion.
