The African Export-Import Bank (Afreximbank) has sealed an agreement with the International Islamic Trade Finance Corporation (ITFC) to receive a USD 100 million credit facility in order to promote Arab-Africa trade and investments.
According to the agreement document as reported by Daily Trust, the facility would help finance and de-risk trade flows between the Arab and Africa regions, thereby raising the level of trade, which currently stands at about USD 500 million.
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