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China Eximbank provides $300 million export buyer's credit to Africa Finance Corporation for on-lending purposes in 2023 (Linked to Record ID#89501)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Africa Finance Corporation (AFC) |
| Country | Africa, regional |
| Start Date | Sep 26, 2023 |
| End Date | Oct 24, 2031 |
| Duration | 2,950 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 102625 |
Grant Description
China Eximbank provides $300 million export buyer's credit to Africa Finance Corporation for on-lending purposes in 2023 On September 26, 2023, China Eximbank and Africa Finance Corporation signed a $300 million export buyer's credit facility agreement to support trade finance and investment in Africa, further facilitating the flow of goods and services between Africa and China.
The agreement was signed on the sidelines of the Asian Infrastructure Investment Bank (AIIB) Annual Meeting in Sharm El-Sheikh, Egypt. This loan was also to refinance the 2018 U.S. $300 million five-year facility captured in Record ID#89501.
Staff Comments
1. Africa Finance Corporation is a pan-African Multilateral Development Financial Institution established in 2007 by sovereign African states to provide pragmatic solutions to Africa's infrastructure deficit and challenging operating environment.
Sources & References
- Africa Finance Corporation (AFC) secures US$300 Million Loan from the Export-Import Bank of China to boost trade finance in Africa
- 进出口银行与非洲金融公司再度合作并签署贷款协议
- 进出口银行副行长张文才率团赴埃及出席亚洲基础设施投资银行第八届理事会年会
- AFC secures US$300 Million Loan from the Export-Import Bank of China to boost trade finance in Africa
- Africa Finance Corporation Annual Report 2023
- Africa Finance Corp Investor Pres 5-22-24
- Debt- Performance track record
- Africa Finance Corporation and the Export-Import Bank of China (CEXIM) Strengthen Partnership to Drive Trade and Infrastructure Growth Across Africa
- The Export-Import Bank of China and AFC Signed a Loan Agreement during the 2023 AIIB Annual Meeting
- Milbank Represents China Export-Import Bank in Loan Facilities to Africa Finance Corporation and Africa Export-Import Bank
- Prospectus: AFRICA FINANCE CORPORATION U.S.$5,000,000,000 Global Medium Term Note Programme Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Africa Finance Corporation (AFC)
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