Afreximbank donates US$500k to countries hit by Hurricane Beryl

THE African Export-Import Bank (Afreximbank) has donated more than US$500,000 to countries affected by Hurricane Beryl.

In a media release on September 4, Afreximbank said the money is expected to be used to aid disaster relief and rebuilding efforts across Caribbean countries that were hard-hit.

Hurricane Beryl devastated the Grenadian islands of Carriacou and Petite Martinique as well as several islands in St Vincent and the Grenadines (SVG), including Union Island and Mayreau.

St Lucia and Barbados were also affected to a lesser extent.

Acting chief operating officer of Afreximbank’s Caribbean office Okechukwu Ihejirika delivered a letter of solidarity from Afreximbank’s president and chairman Benedict Oramah to the prime ministers of the four affected countries.

In the letter, Oramah said the affected countries were among the 11 Caricom member states participating in Afreximbank under a partnership treaty between Afreximbank and Caricom countries.

He said it was important for the bank to stand with them at this difficult time.

“The news of the hurricane’s impact has deeply saddened us, and our thoughts are with everyone affected by that devastating event. However, the strength and resilience of Caribbean people is well-known; we have no doubt that these qualities will shine through during this difficult period.”

Afreximbank is a pan-African multilateral financial institution with a mandate to finance and promote trade with African nations and boost economic expansion on the African continent.

It helps countries deal with global climate and health emergencies, given the rising frequency and intensity of climate and health disasters in Africa and the Caribbean.

In the last few years, it has welcomed Caricom countries to ratify the bank's partnership agreement, but Trinidad and Tobago, Jamaica, Haiti and Montserrat are yet to formalise their membership.

Afreximbank executive vice president Kanayo Awani told Newsday on June 14, at the third AfriCaribbean Trade and Investment forum, in Nassau, Bahamas, discussions with TT are still a work in progress.

"Our bank's president Prof Benedict Oramah was in TT within the last two months, again to drive the agenda of TT joining Afreximbank as a participating member state.

"Once that gets done, we will be able to do transactions with the country."