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AFREXIMBANK to site industrial parks, worldclass hospital in Nigeria

The African Export-Import Bank (AFREXIMBANK) has concluded arrangement to site two major industrial parks and a world-class hospital that would serve as centers for excellence in Nigeria. The Bank is currently waiting for the Federal Government to decide on the locations of the parks and hospital for work to commence.

Speaking in Abuja, the President of the Bank, Dr Okey Oramah, said the bank intervened in various sectors of Nigeria’s economy to the tune of $16 billion (about N4.8 trillion) since inception.

He said the intervention cut across many sectors, such as tourism, agriculture, power, trade and transportation.

Nigeria is a very important shareholder as well as the beneficiary of the bank. It is the second largest shareholder after Egypt,” Dr Oramah said.

“We have supported the acquisition of oil assets by Nigerians that were divested by oil giant with about $2.5 billion. There is no bank in Nigeria that does not have one line of credit from us. During the financial crisis we provided about $1.5 billion to support and mitigate the foreign exchange shocks,” he said.

AFREXIMBANK has disbursed close to $40 billion since the commencement of its operation in 1994 and has total asset of $15 billion as at today.

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Lanre Alabi
Lanre Alabi
Lanre Alabi is the Publisher/Editor-in-Chief of Infrastructure Development Magazine

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