Afreximbank, Anambra Govt. Sign $200m Development Agreement

By Lucy Osuizigbo-Okechukwu

The Africa Export-Import Bank (Afreximbank) has signed financial advisory mandates worth two hundred million dollars ($200m) with the Anambra State Investment Promotion and Protection Agency.

The signing ceremony took place on the sidelines of the ongoing 2023 Intra-African Trade Fair (IATF), Africa’s largest trade and investment fair holding in Cairo, Egypt.

It said that the $200m development agreement was aimed at ‘Charting a course for the future’ of the state.

The agreements are with respect to capital-raising for the development of strategic infrastructure projects to transform Anambra into a leading investment, technology, and leisure destination in Nigeria and Africa.

The  funding is expected to  be dedicated to crucial projects, including the development of the Ikenga Mixed-Use Industrial City Project, investments in the Anambra Export Emporium, and the establishment of the Akwaihedi Unubi Uga Automotive Industrial Park.

The second initiative focuses on the creation of operational and governance framework for the Anambra Diaspora Fund, aiming to leverage the resources and expertise of the diaspora community for the state’s benefit.

Furthermore, the mandate encompasses capital-raising financial advisory services for key projects such as the Anambra Intra-City Rail Master Plan Project.

These initiatives underscore Afreximbank’s unwavering commitment to inclusive growth and sustainable development.

Afreximbank President, Benedict Oramah and Gov. Soludo, alongside  Anambra Commissioner for Industry, Mr Christian Udechukwu; the Chief Executive Officer, Anambra State Investment Promotion and Protection Agency, Mr Mark Okoye, jointly endorsed these transformative deals. (NAN) www.nannews.ng

Edited by Vivian Ihechu