NEXIM, BDEAC Sign MOU To Explore Partnership Opportunities

The Managing Director of the Nigerian Export-Import Bank (NEXIM) Mr. Abba Bello and the President of the Development Bank of the Central African States (BDEAC) Mr. Fortunato Ofa Mbo Nchama,  have met to explore areas of partnership between the two organisations towards promoting regional Trade and investments.

In this regard and to formalise the relationship, a memorandum of understanding was signed between the two institutions with NEXIM represented by the Managing Director/Chief Executive, Mr Abba Bello, while Mr. Fortunato Ofa Mbo Nchama, President of the Development Bank of the Central African States (BDEAC) represented his institution.

The partnership is expected to leverage on opportunities in the areas of technical assistance/capacity building, information exchange as well as transactional relationships, including lines of credit, guarantees and co-funding arrangements.
In his comments, the President of the Development Bank of the Central African States (BDEAC) observed that the collaboration with NEXIM will foster a mutually beneficial relationship by strengthening economic and trade cooperation with Nigeria towards achieving one of the core objectives of the Economic and Monetary Union of Central Africa (CEMAC).
In his closing remarks, the Managing Director of NEXIM, expressed the pleasure of the Bank in the current efforts to deepen the relationship with BDEAC, adding that the benefits of such collaboration to regional development and growth cannot be overemphasised. He reiterated the Bank’s commitment to ensuring that a workable implantation plan is articulated towards achieving the objectives of the MOU.