The African Export-Import Bank (Afreximbank) has disbursed $140 billion to African countries in the last 10 years, the President of the institution, Prof. Benedict Oramah, has said.

Oramah, who is the President disclosed this in Abuja during the official signing of the Host Country Agreement for the 2025 Annual General Meeting (AGM) of the bank between Nigeria and Afreximbank.

Oramah, who is on exit from the bank after 31 years of meritorious service, submitted that the bank’s interventions that were once viewed as impossible have not only become a reality but are also transforming many African countries from commodity-dependent economies into major industrial hubs.

These, he said, are creating the capacity for Africans to resolve their socio-economic development challenges. He commended Nigeria for being a steadfast partner and a strong pillar of the bank, noting that the government has consistently responded positively to capital calls, injecting substantial equity into the bank even when the economic condition appeared difficult.

Also, the government has removed regulatory obstacles that would have hindered the Bank’s operations in Nigeria, he said. Oramah stressed that being the largest recipient of the bank’s trade and development finance, Nigeria has attracted cumulative disbursements of about $52 billion thus becoming the first beneficiary of several flagship transformative projects.

Among the flagship projects, according to him, is the African quality assurance centre, one of which has already commenced operations, while two others are currently under development.

https://guardian.ng/business-services/business/afreximbank-disburses-140-billion-to-african-countries-in-10-years/