Thursday, 14 April 2016

News Release: Nigeria’s Anambra State Seeks Afreximbank’s Support For Economic Development

Afreximbank President Dr. Benedict Oramah (seated centre), flanked by Executive Vice President Denys Denya, to his left, and Ifeatu Onejeme, Anambra State Commissioner for Finance, Industry, Innovations and Development Finance Institutions, in group photo with other participants in the discussions held in Cairo.


The Government of Anambra State of Nigeria has entered into discussions with the African Export-Import Bank (Afreximbank) to seek the support of the African trade finance institution for its effort to speed up the industrialisation and development of trade in the state.

A three-member delegation from the state, led by Ifeatu Onejeme, the Commissioner for Finance, Industry, Innovations and Development Finance Institutions, which visited the Afreximbank Headquarters in Cairo yesterday to start off the discussions, said that Anambra was seeking the Bank’s support to achieve enhanced economic development and industrialization.

Mr. Onejeme told Afreximbank President Dr. Benedict Oramah that the state was pursuing several key industrialization programmes for which it needed the expertise and support of the Bank in order to achieve successful execution.

Those included the establishment of a diaspora crowd-funded bond, the development of industrial parks, the development of the state’s hospitality sector, in particular the Agulu Lake Resort, and public water works and reticulation, he said.

The commissioner added that Anambra State wanted to turn itself into a logistics hub in order to build on its comparative advantage.

Responding, President Oramah said that Afreximbank stood ready to support the economic development efforts of its Member States, including the constituent states, like Anambra State, noting that with the large number of Anambra citizens currently in the Diaspora, the state should have no difficulty in attracting substantial amounts of remittances to support a diaspora crowd-funded bond.

Earlier, the delegation held meetings with officers from Afreximbank’s business development departments where it outlined the details of the state’s investment and industrialization programmes.

Also on the delegation were Joe-Billy Ekwunife, Managing Director of the Anambra State Investment Promotion and Protection Agency, and Mark Okoye, Special Adviser to the State Governor on Economic Planning and Budget.

Manal Mounir Hendy
Associate
External Communications

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