NEXI backs JBIC credit line to Afreximbank

Nippon Export and Investment Insurance has established an export credit line for the African Export-Import Bank (Afreximbank).

NEXI will provide loan insurance for the portion financed by a commercial bank (up to $120 million), which is a part of the export credit line (up to $300 million) set up between the Japan Bank for International Cooperation (JBIC) and Afreximbank on 31 May, 2019. 

This aims to provide loans to African companies through Afreximbank, for their purchase of machinery, equipment and services needed for economic development from Japanese companies or Japanese overseas subsidiaries.