This programme supports African manufacturers and importers of engineering equipment, and capital goods, as well as promoters of turn-key projects. It is designed to serve the following purposes:
- Assist African equipment manufacturers to compete for export markets at near equal footing with other competitors;
- Assist and encourage African users of heavy equipment manufactured competitively in Africa to source such equipment from Africa; and
- Assist African importers of heavy equipment for export promoting infrastructure projects to obtain such equipment from overseas at reduced costs since the Bank’s guarantee may reduce the fees for export credit cover required by the overseas shippers.
The Bank’s Supplier Credit Facility permits African exporters of goods and equipment to give credit to their buyers for a period ranging from six months to seven years. The exporter is financed by the Bank against appropriate guarantees.
Under the Bank’s Buyer Credit Facility, the exporter of the heavy equipment is paid while the Bank receives payment in due course from the Buyer. This is also provided against appropriate guarantees where necessary.
This Programme is focused, but not limited to, encouraging intra-African trade in engineering machinery and equipment and infrastructural services.