On the sidelines of the recently concluded 2024 Islamic Development Bank (IsDB) Group Annual Meetings and Golden Jubilee Celebrations, African Export-Import Bank (Afreximbank or “the Bank”) concluded arrangements for a facility of US$250m with the International Islamic Trade Finance Corporation (ITFC) and US$100m with the Islamic Corporation for Development of the Private Sector (ICD) in support of trade and projects in Africa.
The lines of financing expected from ICD would strengthen the Bank’s capacity and reinforce its intervention in the private sector, particularly for enterprises with substantial development impact in ICD and Afreximbank’s Member States.
The facility from ITFC on the other hand, will provide compliant syndicated trade financing line thereby complementing the bank’s trade finance offerings to its clients.
