On October 17, in the presence of Ren Shengjun, President of the Export-Import Bank of China (China Eximbank) and Benedict Oramah, President and Chairman of African Export-Import Bank (Afreximbank), Zhang Wencai, Vice President of China Eximbank signed a USD600 million facility agreement with George Elombi, Executive Vice President of Afreximbank.

Before the signing ceremony, the two sides exchanged views on China-Africa economic and trade relations and priority areas of cooperation, and agreed to take the signing of this agreement as an opportunity to strengthen cooperation in various areas including credit business, equity investment, capital market operations, trade finance, personnel exchange and knowledge sharing, so as to make positive contributions to China-Africa economic cooperation and trade as well as sustainable economic and social development of African countries.

The signing of the agreement is a concrete measure taken by China Eximbank in fulfilling its due responsibilities to promote high-quality Belt and Road cooperation and to implement the nine programs under the FOCAC framework. It is also an important example of third-party market cooperation carried out by China Eximbank.

Afreximbank is one of the key multilateral financial institutions on the African continent. Founded in 1993 and headquartered in Cairo, Egypt, Afreximbank now has more than 40 member countries. The bank is dedicated to promoting intra- and extra-African trade and has been playing an important role in offering trade finance in the region.