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The African Export-Import Bank (Afreximbank) has become a reputable and strong regional development finance institution, responding to significant financing needs in trade development and trade finance in Africa, said Akinwumi Adesina. Afreximbank and the African Development Bank have been building collaborative and productive relationships since its inception 25 years ago. In recent years, the African Development Bank has supported Afreximbank with commercial loans of $ 450 million in 2017, $ 280 million in 2014, 150 million lines of credit in 2010 and $ 250 million to mitigate risk commercial. Adesina, who spoke at a gala dinner at the 2018 Annual Meetings and Afreximbank's 25th Anniversary in Abuja, badured that the Bank would remain supportive, firm and strong in its growth badistance. continued from the export-import bank
. The recent Moody's positive rating is a sign of Afreximbank's good management, and the mark of shareholder confidence is also reflected in the increase in the capital base of the company. Afreximbank, "said Adesina. As a founding parent, the African Development Bank is proud of its pivotal role in setting up the Afreximbank Foundations and the institution's achievements as a strategic partner, particularly in financing the Afreximbank Foundation. trade in Africa, "adds Adesina. collaborate with the African Union Commission, the Economic Commission for Africa, the Regional Economic Communities, Afreximbank and other partners to ensure that African countries provide better trade facilitation, increased trade finance and beneficial policies to increase trade. the trade finance space. We need to be smarter and faster to respond to the growing opportunities and emerging challenges faced by the majority of small businesses across the continent. "
Adesina says that the signing of the African Continental Free Trade Agreement (AgCFTA) in March 2018 will allow Africa to trade more with itself and strengthen the economy." attractiveness of the continent as an investment destination
African countries are showing resilience as evidenced by the share of intra-African trade that has gone from 10% in 2000 to 16% Since the signing of the ALECEA, the African Development Bank has allocated $ 4.5 million to boost intra-African trade and create more synergies with the Bank's priorities under the Bank's five key priorities. example, the equivalent figure for Europe is close to 80% .For this to happen, Africa needs to be bolder and broaden its appeal by reducing administration and transaction costs, by particularly at the borders as well as surmont er market segmentation and improve the overall investment climate.
A crucial collaboration between the African Development Bank and Afreximbank for a grant grant of US $ 500,000
The project, funded by FAPA, aims to promote the development of the African Development Bank. factoring as an alternative instrument for trade finance. in Africa. This investment confirms the African Development Bank's commitment to support extra-African and intra-African trade promotion.
"If Africa wants to integrate and improve the standard of living of its population, we must use innovative financial solutions such as factoring and credit insurance." Adesina says that finances and investments are at the forefront of economic transformation, underlining that the Bank is opening a new route for Africans investment through the Africa Investment Forum (AIF), scheduled for 7 as of November 9, 2018 in Johannesburg, South Africa.
"The Africa Investment Forum, Africa's investment market, will provide a unique platform for trade negotiations. investment, financing, transactions and a market to conclude agreements to accelerate the economic development of Africa. "
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