The African Export-Import Bank (Afreximbank) and Agence Française de Développement (AFD) have signed a credit facility agreement worth €100mn.

The agreement aims to support the African trade finance bank in its efforts to transform the structure of African trade through diversification, promotion of value-added exports and enhancement of intra-African trade.

“AFD makes around 50% of its activities in Africa and is especially delighted to initiate its first financing and  long-term partnership with Afreximbank, a major player promoting value addition to African exports and facilitating trade development across Africa,” says Stéphanie Lanfranchi, AFD’s Egypt country director.

“The signing of this facility agreement demonstrates Afreximbank’s commitment to delivering on its mandate to leverage international capital into Africa through constructive partnerships with development finance institutions, such as AFD,” adds Jean-Louis Ekra, incumbent Afreximbank president.