African Export-Import Financial institution (Afreximbank) (www.Afreximbank.com) has responded to the devastation attributable to Hurricane Beryl, donating over half one million US {dollars} to help catastrophe aid and rebuilding efforts throughout Caribbean international locations that have been hard-hit.
Hurricane Beryl severely devastated the Grenadian islands of Carriacou and Petite Martinique in addition to a number of islands in Saint Vincent and the Grenadines, together with Union Island and Mayreau. It additionally impacted Saint Lucia and Barbados to a lesser extent.
Mr. Okechukwu Ihejirika, Appearing Chief Working Officer of Afreximbank Caribbean Workplace delivered a letter of solidarity from Prof. Benedict Oramah, President and Chairman of the Board of Administrators of Afreximbank, to the Prime Ministers of the 4 nations.
Within the letter, Prof. Oramah, identified that the impacted nations have been a part of the 11 Caribbean Neighborhood (CARICOM) international locations that have been collaborating in Afreximbank below a Partnership Treaty entered by, and between Afreximbank and CARICOM Member States. He added that it was solely vital for the Financial institution ‘to face with them at this tough time’.
“The information of the hurricane’s influence has deeply saddened us, and our ideas are with everybody affected by that devastating occasion. Nevertheless, the power and resilience of Caribbean individuals is well-known; we’ve got little doubt that these qualities will shine by way of throughout this tough interval,” mentioned President Oramah.
Apart from delivering on its commerce and growth mandate, the Financial institution additionally takes proactive steps to assist international locations cope with world local weather and well being emergencies, given the rising frequency and depth of local weather and well being disasters in Africa and the Caribbean.
Distributed by APO Group on behalf of Afreximbank.
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About Afreximbank:
African Export-Import Financial institution (Afreximbank) is a Pan-African multilateral monetary establishment mandated to finance and promote intra-and extra-African commerce. For 30 years, the Financial institution has been deploying modern buildings to ship financing options that help the transformation of the construction of Africa’s commerce, accelerating industrialization and intra-regional commerce, thereby boosting financial enlargement in Africa. A stalwart supporter of the African Continental Free Commerce Settlement (AfCFTA), Afreximbank has launched a Pan-African Cost and Settlement System (PAPSS) that was adopted by the African Union (AU) because the fee and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Financial institution is establishing a US$10 billion Adjustment Fund to help international locations successfully collaborating within the AfCFTA. On the finish of December 2023, Afreximbank’s whole belongings and ensures stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has funding grade rankings assigned by GCR (worldwide scale) (A), Moody’s (Baa1), Japan Credit score Ranking Company (JCR) (A-) and Fitch (BBB). Afreximbank has advanced into a gaggle entity comprising the Financial institution, its influence fund subsidiary known as the Fund for Export Growth Africa (FEDA), and its insurance coverage administration subsidiary, AfrexInsure (collectively, “the Group”). The Financial institution is headquartered in Cairo, Egypt.
For extra info, go to: www.Afreximbank.com