In a bid to accelerate the pace of key development projects in Africa, the African Export-Import Bank (Afreximbank), has disbursed a 100 million Euros revolving global credit facility to Mota-Engil Africa. Afrexim’s President, Professor Benedict Oramah, announced this in a statement.
According to Oramah, the projects include the construction of trade-carrying and supporting infrastructure required for the acceleration of the integration process on the continent.
The facility will strengthen Mota-Engil Africa’s capacity to carry out projects critical to reducing transaction costs and help foster intra-Africa trade stimulating economic activity across the continent.
Mota-Engil Africa is a significant player in intra-Africa trade as evidenced by the volumes of goods and services it procures from and distributes to African countries where it executes contracts.
The company had a robust backlog of strategic projects in Africa in excess of 3 billion Euros.