Source: African Development Bank Group
|What:||Signing ceremony of Lusophone Compact Guarantee|
|Who:||African Development Bank Bank and the Government of Portugal|
|When:||Monday 28 December – 09:30 GMT to 10:30 GMT|
|Where:||Virtual (Via Zoom)|
On 28 December 2020, the African Development Bank and the Government of Portugal will sign a flagship Guarantee Framework Agreement.
The agreement is part of the foreseen instruments under the General Memorandum of Understanding on the Development Finance Compact for Portuguese-Speaking Countries of Africa that was signed in December 2018 by the Bank, the Government of the Republic of Portugal and the Governments of the Portuguese-Speaking Countries of Africa (“PALOP”).
The Lusophone Compact Guarantee Program will allow deployment of the €400 million guarantee committed by the Portuguese Government, that will help de-risk complex but highly developmental transactions, thence, enabling such projects to attract competitively priced commercial funding to support relevant projects and programs.