3 days ago
Libya acquires shares in African Export-Import Bank
The African Export-Import Bank (Afreximbank) announced that Libya has acquired a number of its shares, having paid the full amount on May 13. Libya joined the bank's founding agreement in October 2024, becoming the 52nd African country to do so.
The bank operates in areas such as infrastructure, oil and gas, and the export of manufactured goods to other African nations. It also supports regional integration projects targeting countries across North Africa.
Commenting on the development, Libya's Minister of Finance in the Government of National Unity, Khaled Al-Mabrouk, emphasized the importance of the partnership in supporting reconstruction efforts and economic diversification in the country.
'This acquisition of shares in Afreximbank solidifies Libya's status as a full member and shareholder in this prestigious African multilateral institution. It marks a historic achievement following our accession to the bank's founding agreement,' Al-Mabrouk said.
Afreximbank is a pan-African multilateral financial institution tasked with financing and promoting intra-and-inter-African trade. Tags: African Export-Import Bank
