The African Export-Import Bank and ARISE Integrated Industrial Platforms (ARISE IIP)have signed a USD 400 million Facility Agreement at the 3rd Intra-African Trade Fair in Cairo, Egypt.
Mr. Gagan Gupta, the founder and CEO of Arise IIP, and Mrs. Kanayo Awani, the executive vice president of Afreximbank’s Intra-African Trade Bank (IATB), inked the agreement.
The facility is a strategic move to support ARISE IIP’s development of industrial parks and Special Economic Zones in Africa, addressing trade finance needs and capital expenditure.
The collaboration signifies a milestone in the decade-long partnership, where Afreximbank has provided USD 700 million for the development of industrial parks in Gabon, Togo, and Benin, marking a significant achievement in supporting ARISE IIP’s expansion of Special Economic Zones and industrial parks.
Afreximbank’s involvement in the ARISE IIP, through the Fund for Export Development in Africa, demonstrates its commitment to enhancing intra-African trade, investment, and economic transformation.