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Afreximbank partners with Guinea on FEDA fund
FEDA was established by Afreximbank to catalyse Foreign Direct Investment (FDI) flows into Africa's trade and export sectors and to fill the equity funding gap that amounts to $110 billion per annum in the areas of Intra-African trade and Export Development.
The Republic of Guinea has signed the Agreement for the Establishment of the Fund for Export-Development in Africa (FEDA), a development impact-oriented subsidiary of the African Export-Import Bank (Afreximbank).
as a result of the deal, Guinea becomes the third signatory of the Establishment Agreement after Rwanda in November 2020 and Mauritania in January 2021.
To complete the FEDA Legal Establishment process, two Afreximbank member states are required to sign and ratify the Establishment Agreement. The signing of the Agreement by Guinea is a highly significant step as it enables FEDA’s Legal Establishment procedures to progress towards completion.
The Establishment Agreement grants FEDA legal capacity to conduct business in its own name as an international organisation with privileges and immunities accorded to other Multilateral Financial Institutions on the continent.