European Investment Bank grants €100M loan to AfreximBank
Friday, 08 December 2017 14:15
The European Investment Bank (EIB) has granted the African Import-Export Bank AfreximBank, a credit line of €100 million. This facility will help finance investments and Europe-Sub Saharan Africa inter-trade projects.
This financial support is one of three announced by the European institution, at the last Africa-EU summit, recently held in Abidjan. The bank has committed to providing a funding of €35 million to Côte d’Ivoire to modernize its water distribution networks.
The loan has a maturity period of 7 years and will be put at the disposal of African promoters that make investments of small and medium sizes in more than 40 African nations where Afreximbank is present.
EIB has also promised to invest up to €15 million to support Northern African small and medium enterprises, via the Maghreb Private Equity Fund IV which is managed by AfricInvest.
Chamberline Moko
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