Investor interest wanes as EADB loses $50m credit line interes
The bank headquarters in Kampala, Uganda. Photo/FILE
A dramatic drop-off in investor confidence has hit the East African Development Bank as it emerges that the African Development Bank has indefinitely postponed a $50 million loan to the regional lender long before its financial results, revealing losses worth $8.9 million, were released.
The revelation comes as EADB’s board holds its quarterly meeting in Kampala this week to chart a way out of the financial institution’s current troubles, which are reverberating through East Africa’s private sector as available long-term credit shrinks.
