ADDIS ABABA – African Export-Import Bank (Afreximbank) says it has of the award for Best Multilateral Development Bank at the Trade Finance Global (TFG) 2022 International Trade Awards.
The award was presented to the Bank at the Global Annual Meeting of BAFT held in Washington DC on 4th May 2022.
In its sixth year running, the TFG International Trade Awards 2022, in cooperation with BAFT, acknowledged excellence among those who have made an outstanding contribution to global trade and finance.
The Afreximbank was awarded first place in the Best Multilateral Bank category for its support of African countries in addressing the economic, financial and health issues arising from the Covid-19 pandemic, the Bank said in a statement today.
This marks the first time an African institution has won this recognition assessed against global competition, said the multilateral financial institution whose mandate involves financing and promoting intra-and extra-African trade.
Afreximbank also said it has been granted four awards at the EMEA Finance Achievement Awards 2021.
The 14th Annual Achievement Awards recognise deals and dealmakers of 2021, nominated by parties including banks and their clients, for transactions that exemplify the innovative work taking place in the region’s capital markets.
Afreximbank said it was acclaimed “for its landmark securitisations and structured finance deals” on behalf of EMEA’s leading companies.
Among them, the African Vaccine Acquisition Trust or AVAT’s $2bln advance procurement commitment guarantee, received the Best Structured Finance Sustainability Deal award.
Reflecting on the Bank’s latest awards, Prof. Benedict Oramah, President of Afreximbank, said the bank “is honored to receive these awards.”
“We remain committed to our mission of expanding access to trade finance in Africa, even in times of global economic difficulties,” he said.
In 2020 and 2021, Afreximbank intervened forcibly in support of African economies as they battled the COVID 19 pandemic. Over $7 billion was disbursed to African States to mitigate the impact of the pandemic, Oramah said
“We are proud of the outcome of our continued efforts to stimulate a consistent expansion, diversification and development of African trade,” he added.
This is the second time that Afreximbank has been recognised by EMEA Finance.