Ben Okiror
4 November 2008
Kampala — THE African Export-Import Bank (Afreximbank) has given $10m to Ugandan small scale exporters.
This was announced by Jean-Louis Ekra, the bank's president, at a press conference at the Munyonyo Commonwealth Resort on Saturday.
The briefing followed the banks' 15th general meeting, during which finance minister Ezra Suruma was elected chairperson of the meeting.
Ekra said major exporters with a turnover of $10m and assets worth $2m could apply for funds directly from the bank.
Ekra said the meeting was 'fruitful, adding that an extra-ordinary meeting would be held to discuss contentious issues like the relocation of the bank and amendments to the charter.
Commenting on the current global financial crisis, Ekra advised African countries to pool resources in order to mitigate its effects.
He said funding from Europe and America would decrease as a result of the crisis and that export earnings would also decrease.
Ekra advised African countries to diversify their economies.
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