Minsk, 22 June 2016: – The African Export-Import Bank (Afreximbank) and the Development Bank of the Republic of Belarus have entered into a memorandum of understanding (MOU) for the financing and promotion of trade between African countries and Belarus.
Dr. Benedict Oramah, President of Afreximbank, and Sergei Roumas, Chairman of the Board of the Development Bank of Belarus, signed the MOU on behalf of their respective institutions during a visit to Minsk by an African trade delegation, led by Afreximbank, to explore ways to improve trade relations between African countries and Belarus.
Under the terms of the MOU, the two Banks will cooperate in financing private sector operations in Africa and in financing trade between Belarus and African countries.
They will also undertake joint promotional efforts for private sector development finance and trade finance between Belarus and African countries as well as cooperate in project evaluation and development.
Other areas covered by the MOU include exchange of knowledge, information and experience, including through trade referrals, as well as identification of projects and activities involving acquisition of Belarusian goods which could be financed.
Afreximbank currently has 41 African countries as its Member States.
The objectives of the Development Bank of Belarus include facilitating the export of Belarusian products, assisting Belarusian companies with comparative advantages in their offshore project contracting and outbound investment, and promoting international economic cooperation and trade between African Countries and Belarus.
Media Contact: Obi Emekekwue (oemekekewue@afreximbank.com; Tel. +202-2456-4238)
——–
Follow us on Twitter: @Afreximbank
Like us on Facebook: Afreximbank
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 $41 billion in credit facilities for African businesses, including about $6.2 billion in 2015. Afreximbank had total assets of $9.4 billion as at 30 April 2016 and is rated BBB- (Fitch) and Baa2 (Moody’s). The Bank is headquartered in Cairo. For more information, visit: www.afreximbank.com