USD 250 million for Congo’s oilfields

Republic of Congo

BRAZZAVILLE, January 16, 2017 – A facility agreement has been signed between Afreximbank and the government of the Republic of Congo that will see the bank provide USD 250 million in pre-financing to support Brazzaville’s strategic plan for its oilfields.

According to local media over the weekend, Congo’s government had previously mandated that Afreximbank raise USD 1 billion in order to meet financing requirements for oil production and trade-related investments in the oil and gas industry. This new facility will support the government’s expansion of upstream activities, increased oil exports and improved foreign exchange earnings.

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