Credit Line to the African Export-Import Bank

Africa’s export trade only accounts for 3% of world trade. In addition, Africa contributes little to global value chains and accounts for less than 1% of world value added manufacturing. In comparison to other parts of the world, the share of inter-African trade (approximately 18%) in total African trade remains relatively low. Growth in African trade very much depends on the capacity of African countries to promote entrepreneurship, strengthen provision capacities (including financial services), and create regional value chains. The existence of a well developed and stable financial sector is crucial for trade to flourish and for economic growth to be sustainable.

Yet Sub-Saharan Africa encounters major difficulties in developing access to affordable financing. In this context, the intervention of development banks to support trade, such as AFREXIMBANK, should foster its contribution to inclusive, sustainable and job-creating growth.