Sisi witnesses launch of 29th annual meetings of Afreximbank in Egypt

CAIRO - 16 June 2022: President Abdel Fatah El-Sisi witnessed, Thursday morning, the launch of the 29th annual meetings of the African Export-Import Bank (Afreximbank), in the new administrative capital.

 

More than 3,000 high-level banking, governmental and international personalities are participating in the meetings, organized by the Central Bank of Egypt (CBE) in cooperation with Afreximbank, in the presence of central bank governors, African heads of government and ministers, and representatives of international and regional organizations, led by the United Nations, the African Union, and the International Monetary Fund, in addition to representatives of banks, bodies and international experts.

 

The Afreximbank is a pan-African multilateral financial institution concerned with financing and promoting trade within and outside Africa, and is working to innovate financing solutions that support the transformation of the structure of trade in Africa, accelerate industrialization and trade within the region, and thus promote economic expansion in Africa.

 

The bank which is supporting the African Continental Free Trade Agreement (AfCFTA) launched the Pan-African Payment and Settlement System (PAPSS) adopted by the African Union as the payment and settlement platform to support the implementation of the AfCFTA.

 

Afreximbank is working with the African Union and the AfCFTA Secretariat to develop the Adaptation Facility to support countries for effective participation in the AfCFTA.