The African Export-Import Bank (Afreximbank) announced the signing of a $1.35 billion financing facility in favor of Dangote Industries Limited (Dil) in favor of Dangote Industries Limited (Dil).

The financing facility signed by Afreximbank is part of a larger syndicated financing agreement of approximately 4 billion US dollars intended for Dangote industries limited. This financing will make it possible to refinance the capital planned for the construction of the Dangote oil refinery and petrochemical complex, the largest single-train refinery in the world, with a capacity of 650,000 barrels per day. It is one of the largest syndicated loans in recent African financial markets. The financing alleviates initial operating expenses and improves Dil's balance sheet, supporting its continued growth trajectory

According to the Bank's press release, Afreximbank contributed 1.35 billion US dollars, the largest contribution from the participating banks. It thus underlines its commitment to large-scale infrastructures that promote industrialization, energy security and intra-African trade in Africa