Afreximbank new fund

You're referring to the African Export-Import Bank (Afreximbank) new fund!

Afreximbank, a pan-African multilateral trade finance institution, has recently launched a new fund aimed at supporting African countries in their economic development and trade growth. Here are some key details about the new fund:

Name: African Export-Import Bank (Afreximbank) Trade Development Fund (TDF)

Objective: The TDF is designed to provide financing to African countries, businesses, and projects that promote trade, economic growth, and development on the continent.

Key features:

  1. Financing: The TDF will provide financing to African countries, businesses, and projects in the form of loans, guarantees, and other financial instruments.
  2. Focus areas: The fund will focus on supporting projects and initiatives that promote trade, economic growth, and development in key sectors such as:
    • Infrastructure development (transportation, energy, and telecommunications)
    • Manufacturing and industry
    • Agriculture and agribusiness
    • Services (financial, healthcare, and education)
  3. Eligibility: The TDF will be open to African countries, businesses, and projects that meet specific eligibility criteria, including:
    • Being registered and operating in an African country
    • Having a viable business plan and financial projections
    • Meeting environmental and social sustainability standards
  4. Funding: The TDF will be funded through a combination of equity and debt financing, with a target size of $1 billion.

Benefits:

  1. Increased trade and economic growth: The TDF will help to increase trade and economic growth in Africa by providing financing to businesses and projects that promote trade and economic development.
  2. Job creation: The fund will help to create jobs and stimulate economic activity in Africa.
  3. Promoting regional integration: The TDF will promote regional integration by supporting projects and initiatives that promote trade and economic cooperation among African countries.

Overall, the African Export-Import Bank's Trade Development Fund is an important initiative that aims to support African countries and businesses in their efforts to promote trade, economic growth, and development.