AfreximBank To Build $50m Investment Hub In Imo
The Imo State government on Tuesday said that it was attracting $50m worth of investment to the state.
A statement issued in Owerri, the state capital by the Chief Press Secretary to the governor, Chibuike Onyeukwu, said that the investment was coming through Africa Export-Import Bank.
The statement stated that the effort was part of the governor’s plan to boost the economy of the state.
The statement said, Governor Emeka Ihedioha’s engagement with international development agencies to aid his administration in the task of rebuilding the state, has again yielded desired results.
“The Africa Export-Import Bank is set to make Imo State a huge investment hub, by setting up an Africa Quality Assurance Centre (AQAC) for the entire South-East and South-South regions in the country.
“The AfrExim Bank is an export-import bank which strongly supports expansion, diversification, promotion and development of intra and inter-African trade.
“The $50 million (N18 billion) investment/centre under the quality assurance facility of the bank, will provide certification and inspection services for various products for exports from Imo State and other parts of the regions to the international market.
“The centre, which is the first of its kind in the entire South-East and South-South regions, is an indication of the responses of the investment drive of the governor as well as the remarkable improvement on the Ease of Doing Business rating of Imo State.
“It will also provide capacity building to industrialists, make Imo State a business hub, and more importantly, provide employment opportunities and boost the economic development of Imo State.
“The Centre is a reflection of the efforts of Governor Ihedioha to restore the confidence of investors and development partners in Imo State as an investment destination.
“Recall that Governor Ihedioha had embarked on a Trade and Investment working visit to the Annual General Meeting of the AfrExim Bank, held in Moscow from June 20th – 22nd, 2019.
“The meeting was a melting point for international fund custodians, fund managers, investors and multilateral finance agencies.