(Ecofin Agency) - The African Export-Import Bank (Afreximbank) is about to open a $1 billion credit line to support Angolan SMEs, Paulo Gomes, one of the bank’s advisers, announced on December 14, 2018.

Talking during the intra-Africa trade fair held in Cairo on December 10-17, 2018, M. Gomes explained that via Angolan banks, this credit line would fund SMEs operating in the energy and industrial sectors.

Founded in October 1993, Afreximbank is a multilateral institution dedicated to the financing and promotion of extra and intra-Africa trade. Since the launch of its activities in 1994, the Cairo-based bank has provided about $60 billion credit facility to African companies.