African Export-Import Bank (Afreximbank) plans to double its financing of intra-African trade from $20 billion in 2021 to $40 billion by 2026, Haytham ElMaayergi, Afreximbank’s Executive Vice President, Global Trade Bank, has said.
ElMaayergi was addressing participants and guests in Abuja at the African Caucus Meeting of the World Bank Group and the International Monetary Fund (IMF), where he represented Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank.
Attended mainly by ministers of finance and Central Bank Governors from across Africa, the meeting had the theme “Facilitating Intra-African Trade: Catalyst for Sustainable Development in Africa” and was aimed at identifying key challenges facing Africa in achieving full integration and at engaging in strategic dialogues to engender sustainable solutions.
ElMaayergi said that Afreximbank had been a champion in facilitating intra-African trade since its founding and that it had committed $1 billion to support the funding of the AfCFTA Adjustment Fund and a $10-million grant to facilitate the establishment and operationalisation of that fund.
