Afreximbank gets nod to build industrial parks in Cote d’Ivoire

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The African Export-Import Bank (Afreximbank) says it has received the blessing of Ivorian President Allassane Ouattara to develop new industrial parks in the country.

A statement on Thursday by Afreximbank quoted Ouattara as giving the approval when Afreximbank President, Dr Benedict Oramah, visited him at the Presidential Palace in Abidjan.

Oramah said that the government had agreed to provide a piece of land to Afreximbank and also grant it fiscal incentives to support the parks.

He said that the parks were aimed at contributing to the structural transformation and integration of Africa into the global economy.

He said that the support would help the bank to effectively pursue its objective of promoting intra and extra-African trade.

Afreximbank is the foremost Pan-African multilateral financial institution devoted to financing and promoting intra-and extra-African trade.

The bank was established in October 1993 by African governments, African private and institutional investors, and non-African investors.

Its two basic constitutive documents are the establishment agreement, which gives it the status of an international organisation, and the charter, which governs its corporate structure and operations.

Since 1994, Afreximbank has approved almost 35 billion dollars in credit facilities for African businesses, including about 4.5 billion dollars in 2014.

Afreximbank has its headquarters in Cairo. (NAN)

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