AFREXIMBANK to Expand Financing in Cameroon

The African Import Export Bank President was at the Star Building on Wednesday.

The African Import Export Bank, AFREXIMBANK plans to enlarge it financing in Cameroon from the banana and oil to other sectors of the economy. The President and Chairman of the Board of Directors of the bank, Jean-Louis Ekra declared yesterday, January 16, 2013 after discussions with Prime Minister, Head of Government, Philemon Yang at the Star Building in Yaounde.

Jean-Louis Ekra told journalists that the bank established in 1993 with headquarters in Cairo, Egypt, was opened to finance other sectors of the Cameroonian economy. He said after the annual general assembly of the bank held in Cameroon in 2010, it extended financing to the "Société des Plantations de Mbanga" (SPM) and the banana sector. The discussions with the Prime Minister focused on extending AFREXIMBANK interventions to other sectors in Cameroon, taking into account that the bank finances projects in agriculture, mining and industry in African member countries. Jean-Louis Ekra further revealed that he used the audience to brief the Prime Minister on the various programmes and facilities the bank has deployed in Cameroon, efforts to transform the structure of the cocoa export sector and financing of SONARA and wood processing.

The Prime Minister, Jean-Louis Ekra said, stated Cameroon's commitment to play its role and declaring that cooperation between Cameroon and AFREXIMBANK will help boost efforts deployed to attain the country's emergence by 2035.