Afreximbank will use the proceeds towards its Pandemic Trade Impact Mitigation Facility ("PATIMFA") which was launched in March 2020 to help African sovereigns, commercial banks and corporates to weather the impact of the crisis due to the COVID-19 pandemic. The facility will support the Afreximbank’s interventions in response to the COVID-19 pandemic and will be used to finance trade and trade related investments that contribute to the sustainable development of the socioeconomic, health, manufacturing, environmental, agri and agri-related sectors across the 51 African States which are member of Afreximbank.