Afreximbank signs US$200 million Facility with Export Trading Group (ETG)

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On the sidelines of its 29th Annual Meeting in Cairo, Egypt, African Export-Import Bank (Afreximbank) has concluded a US$200m Ukraine Crisis Adjustment Trade Financing Programme for Africa (UKAFPA) Facility withExport Trading Group (ETG).

The facility will enable ETG to orderly adjust to the impacts of high commodity prices, increased freight cost and supply chain bottlenecks for many key commodities by meeting the resultant increased funding requirements.

“ETG Group is one of the first Intra-Champs of Afreximbank. The role they play is more imperative today, more than ever, given what’s happening in the in the world, due to disruptions of supply chains and the hike in the commodity prices which was affected by the Ukraine crisis, this has followed the coming out of COVID”, stated Ms. Kanayo Awani, Managing Director, Intra-African Trade Initiative, Afreximbank.