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AWB and Exim Bank of China: A $ 5 billion fund

On the sidelines of the 2nd edition of the China International Import Exposition (CIIE), which tooked place this year in Shanghai from November 5th to 10th, a partnership agreement was signed between the Attijariwafa bank group and the Export- Import Bank of China, the main financial institution in charge of supporting China’s strategy for international trade, investment and economic cooperation.

This Memorandum of Understanding deals with the promotion of African exports to China, the financing of investment and the construction of industrial parks in the countries of presence of the Attijariwafa bank group through a fund of $ 5 billion set up by Export-Import Bank of China. It was signed by Mr. Reda Hamedoun, Executive Director of the Attijariwafa bank group covering activities with Asia and Ms. Xu Yan, General Manager of the International Export-Import Bank of China. The Attijariwafa bank group was also represented by Mr. Youssef Kamili, Head of Asia Zone at the Transactional Bank of the Group.

On this occasion, Mr. Mohamed El Kettani, Chief Executive Officer of Attijariwafa bank Group said: “The signing of this Memorandum is the realization of a strong partnership between Export-Import Groups Bank of China and Attijariwafa bank. This agreement will enable our bank to support operators active on the China-Africa corridor, promote the development of exporting companies in Morocco and sub-Saharan Africa in order to access the strong Chinese market of 1.4 billion consumers and contribute to the strengthening of industrial fabric in all our countries of presence.”

This agreement is part of the eight initiatives for the development of Sino-African relations announced by the President of the People’s Republic of China, His Excellency Mr. Xi Jiping, during the last FOCAC in September 2018 in Beijing.

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