Egyptian Minister of Finance, Mohamed Maeet, said Thursday that Egypt is keen on offering the necessary support to the African Export-Import Bank, widely known as Afreximbank, in its capacity as the largest institution for financing multilateral trade co-operation in the African continent.
He said the bank’s work is instrumental in helping African countries manage the shocks from financial, economic and health crises and preserve their economic stability.
This opens the door for pushing economic growth in the continent forward and enhancing inter-African trade, Minister Maeet said.
He added during a meeting in Cairo with Afreximbank’s Board Chairman, Benedict Okey Oramah, that Egypt also backs the bank’s efforts in offering facilities to African countries, so that they can get Covid-19 vaccines.
The bank’s efforts in this regard, the Egyptian minister said, help African countries protect the health of their citizens.
The same efforts also support African economies in the face of the pandemic and keep African economies going in the light of the required preventive measures, Minister Maeet said.
He praised Afreximbank’s contributions to the enhancement of trade between African countries and between these countries and others outside the continent.
Minister Maeet said the bank is an effective tool for strengthening relations between African states.
All stakeholders have a serious interest in backing the activities of the bank in ways that fulfill the goals of these activities, he added.
Talks between Minister Maeet, who is also the head of the General Assembly of Afreximbank, and Chairman Oramah also focused on the work of the bank during 2020 and its plan for the year 2021.
They also discussed preparations for the next meeting of the General Assembly of the bank.
They agreed to meet again this month to discuss means of increasing the bank’s capital.