African Export-Import Bank (Afreximbank) said it plans to assist Nigeria from the $4 billion Ukraine Crisis Adjustment Trade Financing Programme for Africa (UKAFPA) launched last month.
According to it, the move would help mitigate the impact of the food and fuel crises in the country.
President/Chairman of Afreximbank, Prof. Benedict Oramah, made this known at a virtual news conference on the US$4 billion UKAFPA, launched last week, said this is a programme of credit facilities that the bank had developed to manage the impacts of the Ukraine crisis on African economies and businesses.
It was launched as programmed response to an urgent call for emergency intervention by member states of the bank, saying UKAFPA-compliant financing requests received from across Africa exceeds US$15 billion.
Oramah said the bank was also expanding its support to Nigeria’s fuel import, in addition to other provisions made earlier by the bank.
He said: “Nigeria is an African Union and Afreximbank member and should be able to access the facility as a member country.
“We supported fuel import and we are expanding that because there are urgent needs. There are discussions going on with regards to food also. We are supporting Nigeria.
