African Export-Import Bank (Afreximbank) has signed a $400 million credit facility agreement with Africa-focussed developer of industrial parks and Special Economic Zones ARISE Integrated Industrial Platforms (ARISE IIP).

The facility will support ARISE IIP's trade finance needs and capital expenditure for expanding operating industrial parks.

Afreximbank has provided nearly $700 million to ARISE IIP over the past decade for industrial park developments in Gabon, Togo, and Benin.

Additionally, Afreximbank has invested in ARISE IIP through its Fund for Export Development in Africa.

The agreement was signed by Gagan Gupta, Founder and CEO of Arise IIP and Kanayo Awani, Executive Vice President, Intra-African Trade Bank, Afreximbank.

(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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