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Article: South Africa: Standard Bank signs $150m loan with Japanese bank.
- Article from:
- TendersInfo
- Article date:
- October 9, 2009
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STANDARD Bank, which trades as Stanbic in Zambia, has signed a US$150 million loan agreement with the Japan Bank for International Cooperation (JBIC), aimed at boosting trade finance in Africa.
In a press release, Standard Bank stated that the loan was the first transaction between Standard Bank of South Africa Limited (SBSA) and JBIC, the international arm of the Japanese government-owned Japan Finance Corporation.
The deal was signed by Standard Bank Group chief executive Jacko Maree and JBIC president and CEO, Hiroshi Watanabe in Istanbul, Turkey during the annual meeting of the World Bank and the International Monetary Fund (IMF).
This ...