Afreximbank Ready To Provide Support For Zimbabwe To Tackle Fuel Shortages -Bank President

Afreximbank Ready to Provide Support for Zimbabwe to Tackle Fuel Shortages -Bank President

ADDIS ABABA (UrduPoint News / Sputnik - 10th February, 2019) The African Export-Import Bank (Afreximbank) stands ready to provide all necessary support to aid Zimbabwe in tackling its fuel shortage, Dr. Benedict Okey Oramah, president and chairman of the board of Directors, told Sputnik on the sidelines of the 32nd African Union summit on Sunday.

"We have to operate within the country limits they have. We are always available to support them as much as we can within our capacities. The fuel shortages I think are going to be resolved because the government has done some adjustments in prices, policy adjustments, that will make sure that fuel is available," Oramah said.

He said that the bank would support Zimbabwe with various instruments.

"We continue to support them on a revolving basis through letters of credit, provide financing for exports from Zimbabwe, we also provide some financing for investments for Zimbabwe," Oramah added.

The remarks were made amid the ongoing protests against increased fuel prices in Zimbabwe, which turned violent and resulted in deaths of more than 10 people.

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