African Export-Import Bank

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African Export-Import Bank

A bank established in order to promote African exports. Among its activities, the Bank provides credit to African exporters, finances the import of raw materials in order to make exportable products and generally attempts to encourage African countries to trade internationally. It was established in 1993 and maintains its headquarters in Cairo. Its name may be abbreviated to AFREXIMBANK.
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References in periodicals archive ?
According to Oramah, the China Development Bank facility will enable Afreximbank support trade-enabling infrastructure projects across Africa.
Amer pointed out that the CBE has paid $4.6bn since early November, noting that after adding the last $600m that will be paid on Monday, the total of what has been paid is $5.2bn, including $3.2bn to Afreximbank and $2bn to other international banks.
"This syndicated facility helps position Afreximbank to strengthen its role in the development of trade between Africa and the rest of the world, in particular China and the rest of the Far East," said Denys Denya, Afexim's Executive Vice President in charge of Finance, Administration and Banking Services.
During the first phase, which ended in November 2013, Afreximbank delivered 10 Embraer-190 aircraft to the airline as part of a delivery schedule that began in August 2012.
'Nigeria supports the bank immensely and we continue to appreciate her contributions and role in the growth of Afreximbank.'
Speaking during the signing of the agreement at the Afreximbank Headquarters, Dr.
Earlier, Afreximbank President Jean-Louis Ekra told the Minister that the Bank shared the desire of President Joseph Kabila of the DRC to achieve increased value addition to goods being exported to from the country, saying the Bank already had facilities that could help to address that challenge as well as facilities to assist in other areas, once the membership was activated.
He added that the initiative would provide a platform for the realisation of Afreximbank's strategic objectives in line with its strategy, 'IMPACT 2021: AFRICA TRANSFORMED.'
The African Export-Import Bank (Afreximbank) has granted a $300m financing facility to the National Bank of Egypt (NBE) to support Egypt's industrialisation efforts.