Afreximbank grants $200m financing facility to Arab Contractors


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The African Export-Import Bank (Afreximbank) says it has granted Egyptian construction conglomerate, The Arab Contractors (Osman Ahmed Osman & Company) Limited, a $200-million multi-currency guarantee facility.

This is contained in a statement by the bank’s Head of Communications, Mr Obi Emekekwue, on Friday in Lagos.

The statement quoted the bank’s President, Dr Benedict Oramah as saying that the grant was to enable the company meet its obligations under construction contracts within Africa and the Middle East.

Oramah said the signing of the agreement demonstrated Afreximbank’s strong commitment to promoting intra-African trade and support to key intra-African trade players in the continent, referred to as Intra-African Trade Champions or Intra-Champs.

 


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