Summary of Proposed Investment
Project Number
28399
Company Name
AFRICAN EXPORT-IMPORT BANK
Date SPI Disclosed
Oct 22, 2009
Country
Egypt, Arab Republic of
Industry
Financial Markets
Projected Board Date
Dec 3, 2009
Status
Completed
Sector
Trade Finance
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : Feb 19, 2010
Signed : Mar 31, 2010
Invested : Nov 30, 2010
Project Description
The project is for IFC and funding partners (countries, development finance institutions and international financial institutions) to provide trade financing of up to $200 million to African Export Import Bank (“Afreximbank” or the “Bank”) headquartered in Cairo, Egypt, as part of IFC’s Global Trade Liquidity Program (“GTLP”).
GTLP is part of IFC’s multi-faceted global financial crisis response. It is a funded trade finance program of up to $8 billion that will be mobilized and disbursed in phases to provide IFC with a flexible platform from which to support the extension of funded trade financing to under-served clients globally. The proposed total IFC investment would be up to $1 billion, which will be match-funded with resources from other funding partners as well as several international banks with an established footprint in emerging markets trade finance.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Samuel H. Mugoya
Principle Officer
Specialized Funding Unit
African Export-Import Bank
World Trade Center, 1191 Corniche El Nil, Cairo 11221, Egypt
Ph: +202 2578-0282
E-mail: smugoya@afreximbank.com
For Inquiries and Comments About IFC, Contact
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384E Mail: Webmaster