top story Afreximbank to disburse $90bn in support of African trade

The African Export-Import Bank (Afreximbank) said on Wednesday it would disburse no less than $90 billion in support of African trade between 2017 and 2021. In a statement by the bank in Lagos, the plan, dubbed "IMPACT 2021: Africa Transformed", was approved by the Board of Directors during its 111th meeting in Cairo. The bank President, Benedict Oramah, was quoted as saying the plan was to finance Intra-African Trade; Industrialisation and Export Development; Trade Finance Leadership; and Financial Soundness and Performance. According to Oramah, the plan has paved the way for Afreximbank to directly address the imperatives of its mandate. "The philosophy behind it is to build solid export manufacturing capacities as well as domestic and continental supply chains which would facilitate increased flow of goods and services across Africa.




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