Multinational - African Export-Import Bank


Project Summary

Approval Date 19 Jul 2010
Signature Date 15 Jun 2011
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 106,472,083.02
Status Implementation

Project General Description

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.

Project Objectives

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.

Beneficiaries

Afreximbank, the private sector, including SMEs, African commercial banks and all economic sectors of Afreximbank Participating States will benefit from the project.

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-Z1-HA0-004
Last Update 31 Oct 2019

Export

Contact Details

Email private-sector@afdb.org

Geographic Location

Country Multinational