Afreximbank launches $6bln development programme to support African countries

Gainmore Zanamwe — Senior Manager in the African Export-Import Bank (Afreximbank) told that the bank will launch a development financing programme for the benefit of all African countries by providing credit facilities worth $6bn.

He added that the programme aims to finance food and commodities, as well as fertilisers, with the aim of enhancing food security for African countries, especially after they was affected by the repercussions of the Russian-Ukrainian War.

He explained that the programme was initially going to be launched with $4bn, however, the value was raised to $6bn to better address the current global circumstances.