Luanda - The African Export and Import Bank (AFREXIMBANK) has USD1.3 billion available to fund projects in Angola, in several areas, the bank's chairperson, Benedict Oramah said Tuesday in Luanda.
According to the leader of AFREXIMBANK, who is heading a delegation made up of some of the bank's investor partners, at the request of the Angolan authorities, the bank plans to increase that initial amount of funding, in order to help in the process of diversifying the economy and boosting agri-business.
Benedict Oramah made the announcement during a meeting between his delegation and the Secretary of State for Trade, Amadeu Leitão Nunes, and said on the occasion that the institution he heads had transactions in Angola totalling over USD 900 million.
On his 48-hour visit to the country, the chiarperson of AFREXIMBANK (a bank based in the Egyptian city of Cairo) said the aim was to identify new business opportunities and announce an amount of USD 1.3 billion to finance several projects in the 2021 financial year.
"We're going to create an amount to fund agri-business projects," Benedict Oramah noted, stressing that the institution he manages is an important partner in the process of consolidating the African Free Trade Area (FTA), a thesis supported by the Secretary of State for Trade, Amadeu Leitão Nunes.
"The Ministry of Industry and Trade has requested a memorandum of understanding from the AFREXIMBANK delegation, taking into account the process of industrialisation of agri-business in Angola, in line with the agenda of the African Union 2063," the Angolan leader told ANGOP at the end of the meeting.
Created in 1993, the African Export and Import Bank - AFREXIMBANK is a supranational financial institution with headquarters in Cairo, Egypt, and with branches in Abuja (Nigeria), Abidjan (Côte d`Ivoire), Harare (Zimbabwe) and Kampala (Uganda).
