Kanayo Awani, the Executive Vice President, Intra-African Trade and Export Development Bank (Afreximbank), signed on behalf of the Pan-African bank. “The JPPF is a critical collaborative tool through which the Bank and its partners pool resources to prepare bankable projects, given that one of the major challenges in developing projects was moving commercially viable projects to financial close," she said.
The agreement between the Africa Petroleum Producers’ Organisation (APPO) and the Africa Import and Export Bank (Afreximbank) has now declared the venture open for signature by the willing member states.
In August 2015, Egypt expanded the size of the Suez Canal, a man-made Canal that links the Mediterranean Sea and the Red Sea following financing from Egyptians who bought investment certificates worth USD 3.6 billion (13 trillion Shillings) with a maturity period of five years and an interest rate of 15.5 per cent.
