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Afreximbank: Green light for $7bn in financing for 14 African countries

By Omer Mbadi
Posted on Friday, 1 October 2021 06:00

Benedict Okey Oramah, president of the African Export-Import Bank (Afreximbank) since June 2015 / Patrice Moullet for GJA

One of Africa's leading multilateral finance organisations, Afreximbank, is set to pump $7bn into 14 African countries. The cash is to help economies beset by Covid-19 fight back, and accelerate commerce between African countries.

Fourteen African countries will benefit from a $7bn injection from the African Export-Import Bank (Afreximbank), in the fight against Covid-19.

Afreximbank had earlier approved the release of $2bn for the delivery of several million Johnson & Johnson vaccines to 26 countries on the continent. A down payment of $330m has already been made to the American firm. The pan-African trade finance institution held its board of directors meeting from September 22 to 24 in Yaoundé, Cameroon.

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