The African Export-Import Bank (Afreximbank) has raised its financial support to Caribbean countries to 5 billion dollars from 3 billion to promote sustainable development. This announcement was made by the bank's president, Dr. George Elombi, at the Caribbean Community leaders summit.
Addis Ababa, March 3, 2018 (FMC) – The African Export-Import Bank (Afreximbank) has expanded its financial support to Caribbean countries from 3 billion dollars to 5 billion dollars amid growing ties with the Caribbean Community.
Bank president Dr. George Elombi stated at the CARICOM leaders summit that this increase forms part of a plan to fully disburse the funds over the next four to six years. Afreximbank will focus on agribusiness and natural resource development over the coming decade to bolster economic structures, emphasizing job creation, government revenue system reforms, and investment growth.
This additional financial aid is intended to strengthen creative industries that counter capacity building and trade disruptions for the Caribbean Community. The bank noted that its partnership with Caribbean nations continues to strengthen.