Ihedioha Secures Afreximbank’s Support

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Amby Uneze in Owerri

Imo State Government has been assured of the support and cooperation of the African Export-Import Bank (Afreximbank) towards revamping the economy of the state.

Also, Governor Emeka Ihedioha has assured the Bank of his determination to revamp the economy of the state.
The president of the Afreximbank, Prof. Benedict Oramah, disclosed this during a meeting between officials of Imo state government and the Bank held in Moscow, Russia.

The aim of the meeting was for the state government to pitch to the Bank, the development and investment opportunities in the state and the need for an increase in Internally Generated Revenue, through the boost of Foreign Direct Investments (FDIs) and Public-Private Partnership.

Ihedioha, in his presentation, while noting the need for improved and structured financial facilities to support the process of repositioning the state, also highlighted key areas his administration intends to revamp.

He assured that the faith and confidence of the people in the government has been restored.
He pointed out the key sectors of the state includes agriculture, transportation (given the strategic location of the state, it possesses great potential for logistics and transportation through the air, land and waterways), electricity, Infrastructural rehabilitation and redevelopment will be the focal point for the rebuilding of the state.

Also brought to fore were the viable and underutilised potential of the state’s resources such as the maritime and its positive exponential effect on the state’s financial if well structured.
The President of Afreximbank expressed satisfaction with the presentations and demonstrated keen interest in Imo State.

He reiterated that Afreximbank was willing to assist the new government of Imo State to attract FDIs, which would lead to growth in the state’s IGR and GDP.
Furthermore, Oramah stated that the Bank currently has major key players in the maritime sector that would be willing to invest in the commercialisation of Imo State waterways.