African Development Bank partners with Mashreq to boost trade finance

The African Development Bank Group has signed a confirming bank agreement with Mashreq, a leading financial institution based in Dubai. This partnership is part of the Bank’s trade finance guarantee instrument, designed to address the significant trade finance gap on the African continent.

According to the Bank’s 2025 Trade Finance Report, unmet trade finance demand in Africa was estimated between $74 billion and $92 billion in 2024, with small and medium-sized enterprises being the most affected. Through this non-funded instrument, the Group works with local African issuing banks and international confirming banks to support cross-border trade flows, particularly in markets with limited access to credit lines.

Lamin Drammeh, the Bank’s Head of Trade Finance, stated that the partnership is strategic, allowing the Bank to leverage its AAA rating to provide Mashreq with the confidence to develop relationships with local African banks. Joel Van Dusen, Head of Corporate and Investment Banking at Mashreq, expressed enthusiasm for joining the program.