AfDB unveils draft policy on multi-tranche financing

The African Development Bank Group (AfDB) has invited its stakeholders and the general public to provide feedback, inputs and comments on its draft Policy on Multi-Tranche Financing (MTF). A press release on its website said the bank’s management has developed the concept of a Multi-Tranche Financing approach to enhance the lender’s operational delivery modalities for greater selectivity and organisational effectiveness, adding that this will make the institution more effective, relevant, dynamic and resultsdriven. According to the statement: “The proposed MTF will allow the bank to structure a long-term, large or complex operation to be packaged as a series of separate and smaller linked projects (tranches) over a defined time frame (maximum 10 years). Structurally, management will prepare the overall MTF document and request the board’s approval of the financing envelope for the entire MTF.

“The board is expected to approve the first tranche project at the same time as the MTF approval. The financial commitment and legal agreements will only be signed with the client on the first tranche (not the entire MTF envelope). “This implies that the overall MTF envelope will not be legally binding. Only the first and subsequent tranches of the MTF will involve signing separate legal agreements. The preparation of subsequent tranches will be streamlined based on strictly defined criteria, without compromising the due diligence requirements of the bank.”




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