Foreign Minister Ibrahima Khalil Kaba signed the agreement establishing the Fund for Export Development in Africa (FEDA) on behalf of the Republic of Guinea. After Rwanda in November 2020 and Mauritania in January 2021, Guinea becomes the third African nation to sign the establishment agreement.

Signed on March 31, the establishment agreement makes Guinea the third African country to approve the creation of the FEDA, a subsidiary entity of the African Export-Import Bank (Afreximbank). In a statement released Monday, May 17, Afreximbank said that in order to finalize the process of legally establishing the FEDA, two member states must sign and ratify the agreement.

"Afreximbank is very pleased with the signing of the FEDA Establishment Agreement by the Republic of Guinea, marking another important step in the process of establishing the FEDA. This provides the necessary impetus to support the establishment of the EDF as a new multilateral development platform on the continent," said Mr. Kouchner.This provides the necessary momentum to support the establishment of the EDF as a new multilateral development platform on the continent," commented Professor Benedict Oramah, President of Afreximbank and Chairman of the EDF Board. The signing of the agreement by Guinea, Afreximbank said, is a very important step as it accelerates the completion of the legal establishment procedures.