Afreximbank provides Egypt with $30B in financing over past 5 year

The African Export-Import Bank (Afreximbank) President, Benedict Oramah, stressed that the bank provided financing worth $30 billion over the past five years, including $16 billion for the financial sector, pointing out that these financings strengthened the ability of Egyptian companies to expand their business on the African continent.

 

This came in a meeting with the Minister of International Cooperation Rania Al-Mashat to discuss enhancing cooperation with the Afreximbank in advancing South-South cooperation and benefiting from development experiences in Egypt.

 

During the meeting, they also discussed joint work in the field of food security and enhancing agricultural investment in Africa, in addition to various development fields, and discussing cooperation with the bank through the Hub for Advisory, Finance & Investment for Enterprises to achieve integration between the bank’s efforts to empower the private sector and the services and information the platform provides to achieve interconnection with development partners and the business community.

 

They also discussed the Hub for Advisory, Finance & Investment for Enterprises platform and the bank’s electronic Platform for Engineering, Procurement, and Construction (EPC), which was launched during the activities of the third edition of the of the Intra-African Trade Fair held in Cairo, under the patronage of H.E. President Abdel Fattah El-Sisi, the President of the Arab Republic of Egypt. 

 

Al-Mashat stressed the vital role played by development partners to finance the private sector and provide consulting and technical support services, as soft financing and contributions worth $10.3 billion were made available over the past four years.