Standard Bank and OFID partner for trade

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05 March 2010

Standard Bank and the OPEC Fund for International Development have today signed an agreement to launch two African trade financing initiatives.

Standard Bank and the OPEC Fund for International Development (OFID) have today signed an agreement to launch two African trade financing initiatives. The two institutions will partner to provide a commodity financing scheme for African small-holders and a separate trade finance scheme to fund African banks.

Suleiman Jasir Al-Herbish, director general of OFID and Brad Koen, managing director and global head, investment banking and coverage, Standard Bank, signed the agreements today at the bank’s offices in London.

OFID and Standard Bank have agreed to provide commodity financing for 750 000...

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