AFRICA EXPORT-IMPORT BANK PLEDGES 400 MLN USD TO BOOST TRADE WITH BELARUS

The African Export-Import Bank (Afreximbank) has pledged to commit 400 million US dollars to finance and promote trade between African countries and Belarus.

A statement from Afreximbank received here Wednesday quoted its president, Dr Benedict Oramah, as announcing the pledge when he met Belarus officials and bankers in the capital, Minsk.

Oramah said Belarus’ current trade with Africa, which stood at 300 million USD a year, would rise to one billion USD if Belarusian financial institutions contributed to the programme. He said Afreximbank would consider increasing its contribution to the programme if the initial amount was exhausted.

Oramah, who was received by General-Colonel Victor Sheiman, the Chief of Presidential Affairs of Belarus, said Africa was in a hurry to develop and was looking for suitable partners and added that Afreximbank needed suppliers of investment and development goods to work with to achieve that goal.

“With its expertise in mining, production of agricultural equipment, road construction, bridge building and pipeline equipment, Belarus is a natural partner which could supply the capital goods which Africa needed for its development,” he said.

At the Belarus Potash Company, the bank president urged the company to consider going into joint ventures with African businesses to help the continent achieve the goal of becoming the next food basket of the world.

According to him, African countries are now giving priority to modernising agriculture, using fertilizers to increase productivity.

Source: Nam News Network