Afreximbank
Afreximbank always seeks to get trade and investment parties across Africa to join hands, she added.
He added that out of the $2.7 billion worth of direct financing the bank has approved for Egyptian companies this year, $1.6 billion has been disbursed, while the rest is expected to be disbursed within the next few days.
The event is part of their shared effort to foster sustainable development as Africa recovers from the COVID-19 pandemic.
The Bank has also provided $300 million to the National Bank of Egypt to support activities aimed at expanding intra-African trade.
The African Export-Import Bank is investing some 2.3 billion dollars in Egypt, said Global Head of Advisory & Capital Markets of Afreximbank Ibrahim Sagna Tuesday.
The figure exceeds the bank’s target of $25 billion, it said, noting that the signed agreements cover a number of development projects in Tanzania, Zimbabwe, Borkina Faso, Nigeria and Côte d’Ivoire.
Luke clarified that the member countries agreed to liberalize 90 percent of trade movement.
The president of the African Bank for Export and Import (Afreximbank), Benedict Orama, said Sunday he considers the Continental Free Trade Area (CFTA) as the starting point and gateway for Africa's development.
The board of directors of Orascom Investment Holding approved to obtain a term facility of up to $170 million from the African Export-Import Bank.
Nassar on Wednesday had talks with a delegation from the African Export-Import Bank (Afreximbank) on current projects carried out by the bank in Egypt.
The meeting will include a press conference and a panel discussion entitled "Towards a Strategy to Deepen Trade Exchange between Egypt and Africa."
Cairo-based Afreximbank obtained a $100 million financing from the Islamic Corp for the Development of the Private Sector.
Afreximbank has an ambitious plan to raise Intra-African trade to $250 billion by 2021from the current value which stands at $170 billion.
Beneficiaries of the loan must be exporters located in Egypt and the products must be of Egyptian origin.
A wrap-up for the most prominent business news of the day.
The CBE disbursed $2 billion to the African bank earlier this week.
A wrap-up of the most prominent business news of the day.
CBE will pay back on December 7 the last $1.2 billion tranche of a $3.2 loan to the African Export-Import Bank.
A wrap-up of the most prominent business news of the day.
Egypt’s central bank paid back $2 billion to the African Export-Import Bank (Afreximbank) on Monday.
Most Read
