Afreximbank disbursed US$7 billion to assist African economies – Ofori-Atta

When the world was hit by the global pandemic – coronavirus – it had dire consequences on some economies, of which African economies were no exception.

African countries, including Ghana, had its economy in a wobbling state for quite some time and just as the government put in measures to stabilize the economy, there was a war between Russia and Ukraine.

The Russia-Ukraine war, according to the government, had impacted the Ghanaian economy negatively, hence, the move to run to the Bretton Woods Institution for a US$ 3 billion financial bailout programme.

Despite this IMF programme, the Minister of Finance, Ken Ofori-Atta, has stated that Afreximbank under the leadership of Professor Benedict Oramah disbursed US$7 billion to assist African economies during the crisis.

He said, “I would like to use this opportunity to congratulate our indefatigable President, H.E Professor Benedict Oramah, for his commitment to developing our Continent throughout a difficult period in global history.”

“Under his leadership, Afrexim Bank disbursed over US$7 billion to assist African economies in addressing the health and economic impacts of the pandemic,” he stated.

The Minister of Finance said Afreximbank also procured 400 million doses of Johnson and Johnson COVID-19 vaccines that provided access to 30% of Africa’s population and some Caribbean countries at the peak of the pandemic.

Ken Ofori-Atta made this known while delivering a speech at the 30th Afreximbank Annual Meeting held in Accra on Monday, June 19, 2023.

ESA