The Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has underscored the crucial contributions that Afreximbank has made towards Africa’s recovery from the Covid-19 pandemic.

According to him, prior to the implementation of the African Continental Free Trade Agreement (AfCFTA) in 2021, Afreximbank disbursed over $20 billion in support of intra-African trade and investments.

Speaking at the 30th Anniversary celebration of the African Export and Import Bank (Afreximbank), Dr. Addison said the bank projected to double its investment to $40 billion by end-December 2026 to boost intra-African Trade.

“Prior to the implementation of AfCFTA in 2021, Afreximbank disbursed over $20 billion in support of intra-African trade and investments and projected to double this to $40 billion by end-December 2026”, he said.

Dr. Addison emphasised Ghana's long-standing and fruitful cooperation with the bank indicating that Afreximbank provided essential support to Ghana’s Volta River Authority in 2014 to enhance energy generation and played a pivotal role in resolving the energy crisis that plagued the country during that period.

He said “the establishment of Afreximbank’s Trade Impact Mitigation Facility platform, where the bank intervened strongly during the Covid-19 pandemic, and disbursed over $8 billion to central banks and commercial banks to avert looming trade debt payment defaults. Part of this funding also went into the procurement of test kits, PPEs and other Covid-19 containment materials in Member States”.

The event, held was under the theme “Delivering the Vision: Building Prosperity for Africans.”