National Bank of Ethiopia, Afreximbank sign 1 billion USD deal

Addis Ababa, February 8, 2022 (FBC) – The National Bank of Ethiopia and the African Export-Import Bank (Afreximbank) have signed a $ 1 billion loan agreement.

The agreement is aimed at securing a 1 billion USD loan to banks in Ethiopia, National Bank Governor Dr. Yinager Dessie said. It is also stated on the signing ceremony that the agreement will support trade and investment activities in Ethiopia.

He said the loan agreement is important to solve the country’s foreign exchange shortage and stimulate the economy.

Representatives of private banks to benefit from the loan were also present at the signing ceremony.