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Africa Finance Corporation (AFC) has signed a three-year US$300 million loan facility agreement with the Export-Import Bank of China (CEXIM) that is expected to drive increased trade finance and investment acros Africa ande foster economic growth and development.

Export-Import Bank of China Loan to Boost Trade Finance in Africa

By Abdi Ali
Published September 26, 2023

Africa Finance Corporation (AFC) has signed a three-year US$300 million loan facility agreement with the Export-Import Bank of China (CEXIM) that is expected to drive increased trade finance and investment acros Africa ande foster economic growth and development.
Africa Finance Corporation (AFC) has signed a three-year US$300 million loan facility agreement with Export-Import Bank of China (CEXIM) that is expected to drive increased trade finance and investment across Africa and foster economic growth and development.

The two institutions have collaborated since 2018, with AFC receiving US$400 million in bilateral loans from CEXIM to date. The loan will provide critical financing to support trade finance and investment in Africa, further facilitating the flow of goods and services between Africa and China.

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“This partnership with CEXIM is a significant milestone for AFC as we continue to expand our footprint in the Asian capital markets. It significantly increases our capacity to provide trade finance solutions on the continent, promoting international trade and economic diversification while reinforcing the strong economic ties between Africa and China,” says Sanjeev Gupta, Board Member and Head of Financial Services for AFC.

“CEXIM attaches great importance to the China-Africa financial cooperation and AFC is an important partner for us. Over the past few years, CEXIM has provided loans to AFC to enhance the bilateral trade and investment between China and Africa,” says Wencai Zhang, Vice President of CEXIM. “This new project has elevated our bilateral cooperation to a new level and will further enhance China-Africa trade and economic cooperation through the financial support of our two institutions.”

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