Nordic Investment Bank (NIB) and the
African Export-Import Bank (Afreximbank) have signed a EUR 100 million
10-year loan package to finance various infrastructure projects in
various nations on the continent.
African Export-Import Bank (Afreximbank) have signed a EUR 100 million
10-year loan package to finance various infrastructure projects in
various nations on the continent.
The new opportunity to tackle the
infrastructure deficit in Africa is coming barely days after African
nations returned from the Forum of China-Africa Cooperation (FOCAC)
summit in Beijing, China.
infrastructure deficit in Africa is coming barely days after African
nations returned from the Forum of China-Africa Cooperation (FOCAC)
summit in Beijing, China.
Leaders from the continent also signed many agreements on loans to fast track infrastructure development.
The NIB loan to Afreximbank under the
joint facility will be used for financing eligible investments, which
mainly include projects within infrastructure, such as energy, telecom,
industrial parks and special economic zones, roads,
railways and harbours.
joint facility will be used for financing eligible investments, which
mainly include projects within infrastructure, such as energy, telecom,
industrial parks and special economic zones, roads,
railways and harbours.
The loan would allow NIB to support
export projects that include service and equipment deliveries from the
Nordic and Baltic countries.
export projects that include service and equipment deliveries from the
Nordic and Baltic countries.
All projects considered for financing
will be analysed by NIB from a sustainability perspective for their
impact on productivity as well as any potential impact on climate change
mitigation and the environment.
will be analysed by NIB from a sustainability perspective for their
impact on productivity as well as any potential impact on climate change
mitigation and the environment.
“We are pleased to announce our
cooperation with Afreximbank in facilitating investments in African
countries. Providing long-term capital to projects of mutual interest
supports innovation and environmental protection“, says
Henrik Normann, NIB President & CEO.
cooperation with Afreximbank in facilitating investments in African
countries. Providing long-term capital to projects of mutual interest
supports innovation and environmental protection“, says
Henrik Normann, NIB President & CEO.
“The facility will enhance Afreximbank’s
capacity to implement our current strategy, which prioritizes
industrialization and export development, by providing medium to
long-term financing for trade enabling infrastructure projects
in our member states,” said Amr Kamel, Executive Vice President,
Business Development and Corporate Banking, at Afreximbank.
capacity to implement our current strategy, which prioritizes
industrialization and export development, by providing medium to
long-term financing for trade enabling infrastructure projects
in our member states,” said Amr Kamel, Executive Vice President,
Business Development and Corporate Banking, at Afreximbank.
“We are confident that the facility will have a significant impact on the Africa continent in terms of industrial development.
“We are delighted that the Nordic
Investment Bank has chosen to partner with us in the pursuit of Africa’s
industrialization and export development. This collaboration will
contribute to fostering sustainable economic growth and
development in Africa, among other development outcomes,” added Kamel.
Investment Bank has chosen to partner with us in the pursuit of Africa’s
industrialization and export development. This collaboration will
contribute to fostering sustainable economic growth and
development in Africa, among other development outcomes,” added Kamel.
