was signed by Benedict Oramah, president and chairman of the board of directors, Afreximbank, and Tan Jiong, president of CDB in Cairo.
Speaking after the deal was signed, Oramah said the agreement is to support the financing of small and medium-sized enterprises across Africa.He said the facility will go a long way to support “African SMEs involved in extra- and intra-African trade and those engaged in the productive sectors in Afreximbank member states”.
He added that Afreximbank would transfer the financial advantage in pricing and tenor to the end beneficiaries, since the institution received the facility as a medium to long-term funding at a relatively affordable price.“This facility further strengthens the strategic partnership we have developed with the CDB over the last six years, which has seen CDB make three previous interventions in support of our work at Afreximbank,” the president said.