The
Democratic Republic of Congo (DRC) has taken its place as the latest African
country to become a member of the African Export-Import Bank (Afreximbank) with
the signing of the instrument of accession to the Bank’s agreement.
In a formal letter conveying the
Government’s action to Jean-Louis Ekra, President of Afreximbank, Patrice
Kitebi, the DRC’s Minister of Finance, said that the decision to sign the
instrument was taken by the Council of Ministers on 22 April when it decided
that the country would accede to the Bank’s Establishment Agreement.
Welcoming the signing of the
instrument, Mr. Ekra said, “The decision by the Democratic Republic of Congo to
formally accede to the Afreximbank Establishment Agreement brings us closer to
the realization of our objective of making the financing programmes and
facilities of our institution accessible to businesses across the length and
breadth of the African continent. We look forward to the active and positive
participation of the DRC as we work to bring about greater economic integration
in Africa.”
Describing the signing as very
timely, Mr. Ekra said that the membership would bring significant benefits to
the DRC as the Congolese private sector could now to take full advantage of the
Bank’s numerous financial offerings at a time when the economy is booming.
Mr.
Kitebi, who led a high-powered government delegation on a fact-finding mission
to the Bank’s Cairo headquarters on 13 February, had told Bank officials that
the DRC would require support in such key sectors as agriculture, mining,
exploitation of forest resources and private sector development.
Under the terms of the 1993
Abidjan Agreement on the establishment of the Bank, countries that did not sign
the Agreement before it entered into force, are required to issue an instrument
of acceptance and accession and then to ratify the Establishment Agreement in
order to fully activate their membership.
Current participating members
include Angola, Benin, Botswana, Burkina Faso, Cape Verde, Cote d‘Ivoire,
Egypt, Ethiopia, Gabon, Gambia, Ghana, Guinea, Kenya, Malawi, Mali, Mauritania
and Mauritius.
Others are Mozambique, Namibia,
Niger, Nigeria Rwanda, Senegal, Sierra Leone, Sudan, Tanzania, Tunisia, Uganda,
Zambia, Zimbabwe, Cameroon, Liberia and Seychelles.
The DRC’s neighbour, the Republic of
Congo, signed the instrument of accession in July 2013.
Obi Emekekwue
Afreximbank
External Communications
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