DBZ in $5 million Saudi fund

THE Development Bank of Zambia (DBZ) has signed a US$5 million financing agreement with the Saudi Fund for Development for onward lending to enterprises intending to enter the Kingdom of Saudi Arabia market.

Meanwhile, DBZ disbursed loans worth over K88 million to large corporations and small and medium enterprises (SMEs) last year, according to a statement issued by the bank’s stakeholder relations unit yesterday.

DBZ says the money will target firms with viable business proposals and intending to import goods or services from the Kingdom of Saudi Arabia.
The five-year revolving line of financing that was signed last month will go a long way in strengthening trade between Zambia and that country.
“We would also like to announce that the bank recently signed a financing agreement with…

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