Cairo, 02 February 2018: – President Omar al-Bashir of Sudan has commended the African Export-Import Bank (Afreximbank) for the important role it has continuously played to promote trade and economic development in Sudan, which is one of the founding shareholders and member states of Afreximbank.
President al-Bashir, who was speaking in Addis Ababa when he received a delegation of the Bank led by Bank President Dr. Benedict Oramah on the sidelines of the African Union Summit, said that now that conditions have begun to normalize, there was a huge scope for Afreximbank to increase its support and interventions in Sudan.
He identified strategic projects which the Bank could support to include those in the energy sector, where support was required to procure equipment for the supply of adequate electricity to the Darfur region. He also requested the Bank’s support in the implementation of some renewable energy projects; agricultural production and processing of key commodities; and expansion of the Bank’s existing country programme.
Responding, President Oramah said that Afreximbank’s support to Sudan was consistent with the Bank’s mandate as exemplified by similar support extended to other Member States during crisis periods.
According to Dr. Oramah, a new country programme, with strategic enhancements, was being contemplated and would focus on revitalizing industrial activities in Sudan.
The new programme would aim to boost the production and domestic processing of strategic agricultural products, including gum Arabic, cotton, etc.; rebuild and expand trade supporting infrastructure, particularly energy production; and design market promotion programmes to enhance Sudan’s participation in international markets, he said.
He said that the Bank could be a channel for attracting investments into Sudan as some potential investors were already making requests to Afreximbank to support their entry into Sudan.
Also on the Afreximbank delegation were Dr. George Elombi, Executive Vice President, Corporate Governance and Legal Services; Dr. Hippolyte Fofack, Chief Economist; Rene Awambeng, Global Head, Client Relations; Richman Dzene, Special Assistant to the President; Sarah Siliya, Manager, Client Relations; and Aba Ofon, Manager Research and International Cooperation.
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Media Contact: Obi Emekekwue (oemekekwue@afreximbank.com; Tel. +202-2456-4238)
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About Afreximbank:The African Export-Import Bank (Afreximbank) is the foremost pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade. The Bank was established in October 1993 by African governments, African private and institutional investors, and non-African investors. Its two basic constitutive documents are the Establishment Agreement, which gives it the status of an international organization, and the Charter, which governs its corporate structure and operations. Since 1994, it has approved more than $51 billion in credit facilities for African businesses, including about $10.3 billion in 2016. Afreximbank had total assets of $11.7 billion as at 31 December 2016 and is rated BBB+ (GCR), Baa1 (Moody’s), and BBB- (Fitch). The Bank is headquartered in Cairo. For more information, visit: www.afreximbank.com