Zhang Qingsong, Deputy Secretary of Party Committee of China Eximbank, held talks with Dr. Benedict Okey Oramah, President of the African Export-Import Bank (“Afreximbank”) on the afternoon of 5 September . 

Speaking on the occasion, Dr. Oramah said that African countries thought highly of and deeply inspired by China’s  measures for cooperation with Africa and the eight major initiatives in the next three years and beyond, as announced by President Xi Jinping at the opening ceremony of the 2018 Beijing Summit of FOCAC. He said that the trade facilitation initiative and the USD60 billion support provided by China would expand the room for cooperation between financial institutions of China and Africa. He also pointed out that against the backdrop of growing trade and increasingly close ties between China and Africa, it was important to strengthen full industrial chain cooperation between the two sides. Afreximbank was ready to deepen and promote practical cooperation with China Eximbank in all areas, he assured. 

Deputy Secretary Zhang Qingsong said that Chinese and African financial institutions had complementary advantages. He said that Afreximbank, which is based on the African continent, was close to local markets and accumulated rich experience in local operation, with sound risk control and management. He assured that China Eximbank would continue to act as a major financial force in China-Africa cooperation. He said that China Eximbank was willing to strengthen cooperation with Afreximbank in full industrial chains and support the basic industries of African countries, so as to make contribution to the implementation of the eight major initiatives by combining each other’s advantages. 

Furthermore, both sides agreed to further cooperation in the areas of treasury business, syndicated loans, construction of industrial zones, personnel exchange and information exchange, besides supporting the use of Renminbi in China-Africa trade and economic cooperation, enhancing mutual learning to draw on each other’s experience in risk control and management, and promoting prudent operation, thereby taking bilateral cooperation to a higher level.