Finance

Chad becomes 38th member of Afreximbank

Saturday, 14 November 2015 18:14

Le Tchad est devenu le 38ème pays membre de la Banque africaine d’import-export (Afreximbank), a annoncé l’institution financière spécialisée dans le financement du commerce, dans un communiqué publié le 12 novembre.

Chad became the 38th member country of the African Import Export Bank (Afreximbank), the financial institution specialised in trade funding announced in a communiqué published on 12 November.

The membership agreement of this landlocked Central Africa country was recently signed by the Chadian minister of Finance and Budget, Ngarlenan Docdjengar.

Congratulating himself on this new membership, the President of Afreximbank, Benedict Oramah (photo), declared that "Chad took an audacious step which will enable its institutions, including the private sector, to benefit from a full access to the range of services, programmes and facilities offered by the bank".

Founded in 1993, Afreximbank is a multilateral institution dedicated to financing and promoting trade inside and outside Africa. Since it started operating in 1994, the Cairo-based bank released over USD 35 billion in credit facilities to African companies, including approximately USD 4.5 billion in 2014 only.

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