India Exim Bank Gives USD 100 Million Facility To Africa Finance Corporation

(MENAFN- KNN India) New Delhi, May 20 (KNN) Export-Import Bank of India (India Exim Bank) has extended a USD 100 million credit facility to Africa Finance Corporation (AFC) to support India's project exports across Africa under the Government of India's 'Focus Africa' initiative.

The announcement comes as India continues to strengthen its economic and trade engagement with African nations through infrastructure development, technology partnerships, investments, and capacity-building initiatives.

India's total trade with Africa stood at USD 81.90 billion in FY 2024-25, with Indian exports accounting for USD 42.70 billion, reflecting Africa's growing importance as a strategic trade partner for India.

Credit Facility Aimed At Boosting India's Project Exports

According to the statement, the latest USD 100 million facility extended on May 19, 2026, is aimed at supporting Indian project exports in the African continent and deepening economic cooperation between the two regions.

This marks the third major financial facility extended by India Exim Bank to AFC in recent years.

Earlier, the bank had extended a USD 100 million facility in August 2021 to support critical infrastructure development in Africa during the post-Covid economic recovery phase.

Another USD 100 million facility was extended in March 2026 specifically to support India's project exports in Africa.

India Expands Economic Engagement With Africa

AFC is a treaty-based pan-African multilateral financial institution focused on infrastructure investment and development across the continent. The institution currently has 48 sovereign member states.

The fresh line of credit is expected to further strengthen India's role in financing infrastructure and development projects in Africa while creating additional opportunities for Indian exporters and project developers in sectors such as transport, energy, logistics, and industrial infrastructure.

(KNN Bureau)

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