Afreximbank receives a $500 million loan from China Development Bank for multi-sectoral projects
(Ecofin Agency) - In a release published September 7, 2018, the African Export-Import Bank (Afreximbank) announced that it has been granted a $500 million loan by China Development Bank (CDB).
This loan should fund infrastructures facilitating trade in Africa and various projects in the energy, telecommunication, transport, and agriculture sectors.
The loan agreement was signed during the Forum on China-Africa Cooperation 2018, in Changsha.
“We are actively seeking opportunities to stimulate African development by collaborating with partners to support job creation, boost economic activities and increase tax revenues for governments as a result of increased economic activities that will lead to growth in profits", Benedict Oramah said according to the release.
As far as Zheng Zhijie Liu, Afreximbank’s vice-president is concerned, he explained that China-Africa cooperation has always been at the forefront of his institution’s international activities.