|Approval Date||19 Jul 2010|
|Signature Date||15 Jun 2011|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
The present project is a $ 150 million Preferred Line, Multi-Currency and Multi-Trunk Line of Credit (LOC) with a five-year term to fund the Trade and Project Finance Afreximbank's Operations related to trade in its participating States. Afreximbank currently has an advanced operations pool with a total value of more than USD 4.6 billion. The proposed facility will be offered in two tranches: A tranche of USD 100 million, and tranche B representing the equivalent in EUR of USD 50 million. The funds will be used to co-finance trade finance and related projects, equivalent to US $ 1.7 billion, in Afreximbank's participating States.
The sector objectives of the project are: (i) to support economic growth and development in Africa through the provision of adequate and sustainable trade finance; (ii) strengthen the Bank's counter-cyclical role in the current difficult financial environment; (iii) promote intra-regional trade. Specifically, the project aims to provide adequate and affordable financing for trade and trade-related projects.
Afreximbank, the private sector, including SMEs, African commercial banks and all economic sectors of Afreximbank Participating States will benefit from the project.
African Development Bank
|Last Update||31 Oct 2019|