On 18 September 2015, AFD Country Office had signed a 100 million € credit line agreement with Afreximbank to finance investment projects contributing to the development and enhancement of African and intra-African trade. As this first financing was put in place, the relationship between AFD and Afreximbank grew and gradually turned into a partnership based on a community of objectives and interests for the development of the African economy.
In 2017, AFD Country Office for Egypt and Afreximbank decided to strengthen their partnership and this was concretized in June 2018 by the signing of a new multi-tranche facility for an amount of 250 million €:
- A "Trade Finance" credit line of 150 million €
- A "Climate Finance" credit line of 100 million € coupled with a technical assistance program through a grant of 500 thousand euros.
AFD is currently studying to increase the amount of intra-African trade financing from 150 to 200 million €. This line of credit will promote the competitiveness and diversification of African exports, enhance African exports, foster the insertion of local content and the creation of value chains and regional trade integration.
To support Afreximbank in developing a climate strategy and facilitate its analysis of investments and financing of climate projects, a 500,000 € technical assistance program has been put in place to prepare the second tranche. That tranche is dedicated to climate finance by mobilizing, as much as possible, Afreximbank's range of financial tools towards climate investments meeting technical and financial eligibility criteria consistent with the criteria of the list defined by IDFC (International Development Finance Club).