Afreximbank Agrees $11 Billion Loan Package for South Africa

The African Export-Import Bank agreed to lend South Africa an initial $11 billion to ease funding pressures, support infrastructure projects and Black-owned businesses.

As much as $8 billion will be directed to priority areas including energy, minerals processing and critical infrastructure, Afreximbank President George Elombi said at the signing of the support package in Johannesburg on Wednesday.