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Prime Minister Pierre Attends CARICOM Office Of Afrexim Bank Launch

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Prime Minister Hon. Philip J. Pierre will attend the official office launch ceremony for the newly established CARICOM Office of the Africa Export-Import Bank [Afrexim Bank] in Bridgetown, Barbados on August 4, 2023.

Prime Minister Pierre’s attendance at the official launch follows his first bilateral engagement with President of the Afrexim Bank, Professor Benedict Oramah, in February 2023.

The exchange was held in Saint Lucia and afforded the Cabinet of Ministers and senior government officials an opportunity to interface with Professor Oramah and the members of his senior leadership team with a view to exploring opportunities to secure trade and development financing agreements with the Afrexim Bank.

 The Government of Saint Lucia is a signatory of the Partnership Agreement between the Afrexim Bank and nine other CARICOM Member States.

The Board of Directors of the Afrexim Bank have approved a USD 1.5 billion line of credit for Saint Lucia and eligible CARICOM Member States to support the development of trade-enabling infrastructure, as well as boost the local Small and Medium Enterprises [SME’s] sector and facilitate trade and investments between Africa and the CARICOM Member States.

The establishment of the CARICOM Office of the Afrexim Bank will advance Saint Lucia’s pursuit of South-South Cooperation by exploring new avenues for knowledge sharing, technical cooperation, trade and developmental support with our non-traditional hemispheric partners.

Minister for Education, Hon. Shawn Edward, will act as Prime Minister of Saint Lucia until August 6, 2023.

SOURCE: Office of the Prime Minister

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