Nairobi, 17 July 2023: – The African Export-Import Bank (Afreximbank) today in Nairobi announced the disbursement of a $120-million financing facility to Djibouti’s Great Horn Investment Holding (GHIH) for the execution of a series of development projects in the country’s Damerjog Industrial Development Free Trade Zone.The deal, announced after a meeting between Afreximbank President Prof. Benedict Oramah and Omar Guelleh, President of Djibouti, on the sidelines of the ongoing Summit of Heads of State of the African Union, is part of a total facility amount of $155 million for work on the free trade zone. The remaining $35 million is being financed through Banque pour le Commerce et l’Industrie Mer Rouge (BCIMR) of Djibouti. Proceeds of the facility will be used for the completion of the Damerjog Oil Jetty, which will provide marine connectivity to the free trade zone, and for the construction of a 150,000m³ first storage depot/oil tank farm, as well as for other costs related to the projects….
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