The African Export-Import Bank (Afrexim bank) has announced a partnership with the Development Bank of Central African States (BDEAC) to promote trade and regional integration in BDEAC member countries.
A statement by Mr Obi Emekekwue, the bank’s Director and Global Head, Communications and Events Management on Thursday in Lagos, said the member countries were Cameroon, Republic of Congo, Chad, Central African Republic, Equatorial Guinea and Gabon.
The statement quoted Dr Benedict Oramah, President of Afreximbank, as saying “the MoU was to identify, prepare and finance projects and trade transactions in the countries.
The statement also quoted Mr Fortunato-Ofa Nchama, President of BDEAC as saying “BDEC’s decision to partner with Afreximbank was based on the strong alignment that existed between the strategic objectives of the two entities.’’
Nchama said that the collaboration would contribute to BDEAC’s work in the development of agro-processing and other key economic sectors because those economies were still heavily dependent on commodity exports.
BDEAC is a public regional bank established in 1975 to promote the development and economic integration of Central African Economic and Monetary Community (CEMAC).
Afreximbank is the foremost pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade.