Refining of Guyana oil in Africa floated at Grenada forum

-Caribbean Eximbank on the cards

By Marcelle Thomas in Grenada

The African Import Export Bank (Afreximbank) is working with the Carib-bean Community (CARI-COM) to establish the region’s own Import and Export Bank and the option of Guyana’s oil being refined in Africa has been floated.

The fourth Annual Afri-Caribbean and Investment Forum (ACTIF) opened yesterday in St George’s, Grenada under the theme ‘Resilience and Transfor-mation: Enhancing Africa-Caribbean Economic Cooperation in an Era of Global Uncertainty’ to a packed auditorium which included Heads of State or representatives from Cari-com and Africa, Deputy Secretary General of the United Nations, Amina Mohammed and some 1800 delegates from around the globe, including 20 from Guyana’s private sector. 

“In an era of declining development assistance flows to our countries, coupled with the exit of international banks, and the imperative to build our economies using our resources and institutions, we must develop our own institutions that are capable of financing our deve-lopment,”  outgoing Presi-dent of Afreximbank, Dr. Benedict Oramah declared yesterday.