Our website use cookies to improve and personalize your experience and to display advertisements(if any). Our website may also include cookies from third parties like Google Adsense, Google Analytics, Youtube. By using the website, you consent to the use of cookies. We have updated our Privacy Policy. Please click on the button to check our Privacy Policy.
Africa’s $4-billion cushion against Ukraine war shocks

Africa’s $4-billion cushion against Ukraine war shocks

AFREXIMBANK said it had set up a $4 billion trade finance programme to cushion economies and businesses on the continent against shocks arising from the war in Ukraine, that demand for financing already exceeds the amount. Cairo-headquartered Afreximbank said its Ukraine Crisis Adjustment Trade Financing Programme for Africa was approved by its board at the end of March. It said the fund would extend to areas such as oil and metals buy-back financing, commodity export revenue stabilisation and tourism revenue deficit financing. "Given the importance of both Russia and Ukraine as sources of crude oil and gas, raw materials and…
Read More