The African Export-Import Bank (AFREXIMBANK) has signed a contract to establish its headquarters in the New Administrative Capital of Egypt.
The contract was signed by Khaled Abbas, Chairperson of the Administrative Capital for Urban Development, and Benedict Orama, president of AFREXIMBANK, at the Egyptian Ministry of Foreign Affairs.
It includes the purchase by the bank of a plot of land with an area of 50,000 square meters to build an integrated complex that includes the bank’s largest headquarters on the African continent.
The complex will also include a trade centre, a hotel, conference and exhibition halls. AFREXIMBANK will also purchase six plots of land for use as the headquarters of the bank’s senior management.
The initial investment value of the project is estimated at $32m.
Ambassador Yasser Reda, assistant minister of foreign affairs for financial and administrative affairs, said the success of the negotiations with AFREXIMBANK reflects Egypt’s constant keenness to strengthen cooperation ties with the African continent.
He added that the Ministry of Foreign Affairs pays great attention to promoting the diplomatic quarter in the New Administrative Capital.
Engineer Khaled Abbas praised the success of cooperation with the Ministry of Foreign Affairs in promoting the diplomatic quarter.
He stressed that the implementation of this project and other projects contributed to the New Administrative Capital becoming an important attraction point for foreign investments.
Ambassador Yasser Reda delivered a speech in which he stressed that the success of the negotiations with the African Bank came to reflect Egypt’s constant keenness to strengthen cooperation ties with the African continent.
EKhaled Abbas praised the success of cooperation with the Egyptian Ministry of Foreign Affairs in promoting the diplomatic quarter. He stressed that the implementation of this project and other projects contributed to the New Administrative Capital becoming an important attraction point for foreign investments.
