AFRICAN EXPORT-IMPORT BANK
BANQUE AFRICAINE D’IMPORT-EXPORT
THE SIGNING CEREMONY OF A US$15 MILLION LINE OF CREDIT FACILITY IN FAVOUR OF BANK OF INDUSTRY, NIGERIA
JUNE 22, 2009
The African Export-Import Bank (the”Bank” or “Afreximbank”) today signed a USD 15 million Trade Finance Line of Credit with Bank of Industry (BOI), Nigeria. The Facility Agreement was executed at the Abuja Branch Office of the Bank. Mr. Jean-Louis EKRA, President of Afreximbank signed on behalf of the Bank as lenders, while Mrs. Evelyn Oputu, Managing Director of BOI and David Nwachuku, Managing Director of LECON signed on behalf of BOI as Borrowers.
Proceeds of the facility will be used by BOI to finance LECON clients engaged in activities in the areas of trade, manufacturing/processing, energy and oil/gas services, and transportation services.
Bank of Industry was established in October, 2001 following the reconstruction of the Nigerian Industrial Development Bank Limited (NIDB) with a mandate to provide financial assistance for the establishment of large, medium and small projects; as well as expansion, diversification and modernization of existing enterprises; and rehabilitation of ailing industries. The Nigerian Government is a major shareholder of Afreximbank.
The African Export?Import Bank was established in October 1993 by African governments, African private and institutional investors, as well as non?African investors, for the purposes of financing and promoting intra? and extra?African trade. The Bank was established by the adoption of its basic constitutive documents, namely, the Agreement for the Establishment of the Bank (the “Establishment Agreement”), which confers on the Bank the status of an international organization, and the Charter of the Bank, governing its corporate structure and operations. Afreximbank is headquartered in Cairo, Egypt.
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- Publishing Date : June 22, 2009
- Category : News