The client was a large Central African regional development bank that acts as the sole development institution in the region. Owned by six member countries, it boasts Institutional and Sovereign shareholders from the Middle East, Europe and Africa.

The recipient entity was large, but so was the quantum of the senior unsecured loan – EUR 50 mn! One being deployed to facilitate a development agenda in some of Africa’s most economically-challenged countries.

Blend’s ACM team zeroed in on a large European DFI for funding. The loan being Euro-dominated, it reduced the borrower’s currency risk, since the local currency is pegged against the Euro. Blend’s successful intervention helped implement a much-needed development agenda in fragile African economies most affected by the pandemic.