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Afreximbank to inject $1.6b into Burkina’s development plan

Afreximbank, the African Export-Import Bank, has pledged approximately US$ 1.6 billion to Burkina Faso’s National Economic and Social Development Plan (PNDES), the Ministry of Economy and Finance informed APA Monday.The sectors concerned are cotton, construction of industrial parks and special economic zones, development of industrial parks, solar energy, development of a railway between Burkina Faso and countries of the sub-region, and other important projects within the framework of the intra-African trade strategy.

As part of trade financing, the bank plans to help Burkina Faso import certain key raw materials for its development, by supporting local companies to exchange with neighbouring countries through the construction of storage infrastructures and improvement of the transport sector.

Based in Cairo, Afreximbank specializes in trade finance in Africa.

Its main activities are, among others, export development projects, structured trade finance, syndication and specialized financing, as well as structuring and financial engineering.

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