National

PM: Partnership with African Bank Promising

NASSAU, BAHAMAS – The Government of The Bahamas signing a memorandum of understanding with the African Export-Import Bank.

Published

2 years ago

November 16, 2022

Megan Shepherd

NASSAU, BAHAMAS – The Government of The Bahamas signing a memorandum of understanding with the African Export-Import Bank.

The prime minister calling it a historic moment as the country joins other Caribbean states in this partnership as Afreximbank seeks to expand operations to the Caribbean.

Prime Minister Philip Davis says the partnership came about swiftly, following a meeting in Egypt.

Ayman El Zoghby, head of Trade and Corporate Finance for the intra-African Trade Bank says he and his team, have already discussed a number of projects in strategic areas for The Bahamas.

The bank has also committed to the establishment of a Caribbean Exim Bank. Once established, they will commit to an investment of some $700 million throughout the Caribbean.

Prime Minister Davis reiterating that ultimately, the CARICOM community will unlock further economic and social benefits at a time when so much support is needed.