Friday, 18 September 2015

News Release: AFD And Afreximbank Sign EUR 100M Line Of Credit To Promote African Trade Diversification And Intra-African Trade

Afreximbank President Jean-Louis Ekra (left) and Stéphanie Lanfranchi, Country Director for AFD’s Egypt office, exchange documents following the signing of the agreement in Cairo.

The African Export-Import Bank (Afreximbank) and Agence Française de Développement (AFD) today in Cairo signed a 100 million-Euro line of credit facility agreement to support the African trade finance bank in its interventions to transform the structure of African trade.

According to Afreximbank and AFD, the targeted transformations focus on trade diversification, promotion of value-added exports and enhancement of intra-African trade.

Jean-Louis Ekra, President of Afreximbank, and Stéphanie Lanfranchi, Country Director, AFD Egypt office, who signed the agreement on behalf of their respective institutions at a ceremony at the Afreximbank headquarters, said that the facility underscored the key role which development finance institutions like Afreximbank and AFD played in furthering economic development in Africa.

“The signing of this facility agreement demonstrates Afreximbank’s commitment to delivering on its mandate to leverage international capital into Africa through constructive partnerships with development finance institutions, such as AFD, to transform African trade through diversification of the continent’s exports and promotion of intra-African trade,” said Mr.  Ekra.

In her remarks, the Country Director of AFD, Ms. Stéphanie LANFRANCHI said:

“AFD makes around 50% of its activities in Africa and is especially delighted to initiate its first financing and  long term partnership with Afreximbank, a major player promoting  value addition to African exports  and facilitating  trade development across Africa"

Obi Emekekwue
Head External Communication
Tel. +202-2456-4238

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