AfreximBank Pledges Funding for Key Projects in Enugu

Emmanuel Addeh in Abuja

The African Export-Import Bank (AfreximBank) yesterday committed to supporting the vision of the Peter Mbah-administration in Enugu state through the financing of several key projects to drive development and investment in the state.

The bank said its interest in Enugu state was because the work being done was in line with the bank’s goals and objectives for the rapid development of the African continent.

President of Afreximbank, Prof. Benedict Oramah, who spoke during a working visit to the Government House, Enugu described Mbah’s investment and development drive as impressive.

Oramah said: “We have been discussing how to support the Enugu state government and people. Today is January 2. So, this is the first official assignment I would do in 2024.

“It is remarkable for me and it speaks a whole lot about our friendship and also the confidence in the work you are doing and the vision you have, not only for this great state, but also for our country, Nigeria.

“We also thank you for the wisdom of visiting us in Cairo and having an extensive discussion on the development priorities of your government…we believe that sub-nationals can contribute to the development aspirations of our country, Nigeria, and our continent,” he said.

He added that specific areas had been identified where the bank intends to quickly advance collaboration, including the hotel and the conference centre, to see how quickly the projects can be completed

“We also are very interested in supporting the development of the new terminal at the airport and especially the cargo and, of course, using it as a base to implement and grow an agro-processing zone. The airport will be critical in getting that done.

“We also think that the work that is being done at the hospital is nice. We are working on the African Medical Centre of Excellence. We are building one in Abuja. So, it is in that spirit that we will be looking at that medical centre to see how we can bring it into the circle.

“We are also interested in considering the development of solid minerals in Enugu State. We would follow that very closely to see also how we can play a role,” he stressed.

He pointed out that there are a number of infrastructural projects that connect all the way to Cameroun, saying that there was the need to put in place a facility to develop bankable values for those aspects of interventions.

“I want to assure you that you can count on us because we believe in the vision you have and we believe that those things that you have identified are things that will shape this state and also our country, Nigeria, and continent.

“Nigeria is not only the largest shareholder of Afreximbank, but also the largest economy on the continent. So, everything that happens to Nigeria, happens to Africa. So, for us, anything we can do to make Nigeria great is something that helps us to make Africa great.

“So, it is our hope that by the end of 2024, we can point to some of these projects as completed projects or projects nearing completion for the benefit of Enugu state people, for the benefit of Nigeria, benefit of Africa, and of course, benefit of Afreximbank,” Oramah noted.

Speaking, Mbah reiterated the determination of his administration to grow the state’s economy from $4.4 billion to $30 billion, assuring that the Enugu state government would play its own part to ensure the actualisation of the pinpointed infrastructure to drive investment and grow the state and the nation’s economy.

Mbah also listed the steps taken by his administration to de-risk investment and promote ease of doing business in the state.

“Our aim is to make Enugu state the premier destination for investment. We are determined to make it easy for the investors to come in. So, we are highly impressed and very happy about the collaboration with Afreximbank and its affiliates, “Mbah stated.