BUSINESS NEWS: Afreximbank Launches $1 Billion Financing Facility for Guyana’s Oil Sector…

*BUSINESS NEWS*

Afreximbank Launches $1 Billion Financing Facility for Guyana’s Oil Sector

GEORGETOWN, GUYANA – The African Export-Import Bank (Afreximbank) has announced the launch of a $1 billion financing facility to support the development of Guyana’s burgeoning oil sector.

The facility, which is designed to provide financing for oil services and related activities, is expected to play a critical role in supporting the growth of Guyana’s economy.

“We are excited to partner with the Government of Guyana and the private sector to support the development of the country’s oil sector,” said Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank.

The financing facility will be available to Guyanese businesses and international companies operating in the country’s oil sector, and will support a range of activities, including oil exploration, production, and services.

Guyana’s President, Irfaan Ali, welcomed the launch of the financing facility, saying it would help to support the country’s economic growth and development.

“This facility will provide critical financing for our oil sector, and will help to support the growth of our economy,” President Ali said.

The launch of the financing facility is the latest in a series of initiatives aimed at supporting the development of Guyana’s oil sector. The sector is expected to play a major role in driving the country’s economic growth in the coming years.

Afreximbank is a pan-African multilateral financial institution that provides financing solutions to support African trade. The bank has a long history of supporting economic development in Africa and beyond.