BCB and BANCOBU negotiated two lines of credit of 125 millions US dollars tor finance import of strategic goods

A delegation led by the First Deputy Governor of the Bank of the Republic of Burundi, Mr. Désiré Musharitse and constituted of Mr. Roger Guy Ghislain Ntwenguye, Managing Director of BCB, Mr. Sylvère Bankimbaga, Deputy Managing Director of BANCOBU, and Mr. Edmond Bayisabe, Director of Legal Affairs at the BRB met with Mr. Michael Awori, Chief Executive Officer of the Trade and Development Bank in Nairobi, on May 2, 2023, and with Ms. Kanayo Awani, Executive Director and Vice-President of Afreximbank in Cairo, Egypt on May 5, 2023.

BANCOBU and BCB negotiated two lines of credit of USD 125 million to finance imports of strategic products in Burundi. It was also agreed in the meetings that the relationships will be extended to include other financial products offered by the two international banks.

Afreximbank and TDB Management pleaded the BRB to continue to accompany the Burundi banking sector to ensure that funded projects are well executed and that commitments to international partners are well met.

BANCOBU and BCB were chosen because they constitute the two major Burundi commercial banks with regard to the volume of international transactions in their records.

The BRB First Deputy Governor informed Afreximbank and TDB about the reforms that are being implemented by the Central Bank of Burundi in the areas of monetary policy and exchange rate policy and their expected positive outcomes in the relationships between the Burundi banking sector and national and international financial partners.

He reaffirmed the commitment of the BRB to facilitate discussions between the banking sector and financial partners to ensure the reforms allow mutual beneficial economic relationships and create a framework that is convenient to all parties involved.