Afreximbank Breaks Ground on Historic “State-of-the-art” US$180m AATC in Barbados, First outside Africa

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African Export-Import Bank (Afreximbank), Africa’s leading Multi- lateral Financial Institution, made history on Tuesday when it broke ground on its first-ever state-of-the-art Afreximbank African Trade Centre (AATC) in the Caribbean, marking a pivotal moment for trade relations between Africa and the CARICOM region.

The US$180 million Barbados AATC, the first to be established outside Africa, is an authentic icon of trade embodying the ambition, resilience, and influence of leading commercial cities in Africa and the Caribbean that serve as dynamic focal points for commerce, fostering regional and global trade connections. It is expected to enhance intra-and extra-African trade, with a focus on countries of the Global South through Afreximbank’s Global Africa initiative.

To facilitate the construction of its iconic AATC in its capital, Bridgetown, the government of Barbados granted Afreximbank 6.4 acres of land at Jemmotts Lane, the former Ministry of Health headquarters.

Upon completion, the business complex will house Afreximbank’s CARICOM office, a conference facility, a technology and SME incubator, a Digital Trade Gateway 100 room hotel, and a trade and exhibition centre, as well as office spaces for local, regional and international financial and policy organisations.

This groundbreaking event marks the official commencement of construction for this historic project and is a significant step in Barbados and CARICOM’s journey towards economic advancement and regional integration.

Afreximbank initiated the AATC concept following a 2018 Board decision to create trade facilitation hubs in key commercial capitals across Africa.

These hubs will provide integrated trade information, services, finance, and ancillary facilities. Nine leading commercial cities were subsequently selected to host the network of AATCs across Africa and the Caribbean.