Africa: Afreximbank Announces $1-billion Adjustment Facility, Other AfCFTA Support Measures as African Leaders Meet

press release

Niamey — Prof. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), yesterday in Niamey, addressed the 12th Extraordinary Summit of African Union (AU) Heads of State, announcing a series of initiatives to support the implementation of the Agreement for the African Continental Free Trade Area (AfCFTA).

Prof. Oramah told the heads of state, who were gathered to mark the start of the operational phase of the AfCFTA, that Afreximbank was instituting a $1-billion AfCFTA Adjustment Facility to enable countries adjust in an orderly manner to sudden significant tariff revenue losses as a result of the implementation of the agreement.

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