Afreximbank in pact to promote industrial parks, economic zones

Parliamentary Committee on Trade, Industry and Co-operatives during a tour of the Special Economic Zone in Naivasha. [File, Standard]

The African Export-Import Bank (Afreximbank), Africa's trade development bank, has ratified a series of initiatives designed to support Kenya's industrialisation and export-led development agenda.

According to the terms of the initiatives, which were formalised at a signing ceremony with the Kenyan authorities in Mombasa recently, the bank will finance the development and operationalisation of industrial parks and Special Economic Zones (SEZs) to bolster the country's industrialisation and export manufacturing.