NAN-FE-6
Agreement
Minsk, June 7, 2017 (NAN) The Afreximbank and Deveopment Bank of Belarus on Wednesday signed a framework agreement on the disbursement of 150 million dollars loan facility
The 150 million dollars loan facility is the first tranche of the 880 million dollars facility which the two banks pledged to provide under the Belarus-Africa Trade and Investment Fund Facility (BATIFF).
Dr Bernard Obama, the President of Afreximbank, said in Minsk that the framework agreement was historic as his bank never contemplated such a milestone just one year when the bank visited Belarus for possible working arrangement.
” A year ago when we visited Belarus for possible working on Belarus-African trade, we never knew that we will get to this stage of clear actions soon.
“Belarus is a best kept secret, especially for Africa. There are so many opportunities for us in Belarus and Africa needs these opportunities in the next few years.
“I was even more amazed by the presentation of the ministry of trade in Belarus today showing so many more of these opportunities that I never knew.
“Africa is so much desirous of moving away from commodity exports to other areas and this is the opportunity being provided by Belarus.
“Belarus can offer Africa the opportunities to increase its participation in global trade,” he said.
Oramah said that the 150 million dollars was just the first tranche of credit facility and that funding of the facility could increase to three billion dollars in few years.
Mr Sergei Roumas, the Chairman of Development Bank of Belarus, said that the occasion was a significant step towards establishing mutually rewarding trade relationship between Belarus and Africa.
“There are more of this project agreements to be signed to implement future projects,” he said. (NAN)
TA
Edited by Tajudeen Atitebi