The African Export-Import Bank (Afreximbank) is to implement a Tunisia-Africa Trade and Investment Promotion Program (TATIPP) with an initial commitment of $500 million to promote trade between Tunisia and the rest of Africa, President of the Bank, Benedict Oramah, has announced. Prof. Oramah said that if the initial commitment was fully utilized, Afreximbank would be prepared to increase the amount available. He recalled that in addition to the $500-million TATIPP, Afreximbank had approved facilities worth $300 million for six Tunisian banks under its Afreximbank Trade Facilitation Program (AFTRAF). AFTRAF is structured to enhance confidence of counterparties in the settlement of international trade transactions, support intra-African trade and facilitate purchase of equipment for production of export goods. It was developed in response to the cutbacks in trade finance available to Africa due to stringent compliance and regulatory requirements imposed on international banks, the press release explained.

Source: The North Africa Journal February 06, 2019 12:11 UTC