The Global Network of Export-Import Banks and Development Finance Institutions (G-NEXID) is participating in the 14th United Nations Conference on Trade and Development (UNCTAD 14) which is taking place in Kenyan capital of Nairobi under the theme ‘From decision to action: Moving towards an inclusive and equitable global economic environment for trade and development.’
Mr. Bashir Wali the acting Managing Director of Nigeria Export Import Bank (NEXIM), is the Honorary President of theG-NEXID which has a membership of 26 institutions.
G-NEXID serves as a channel to bridge the gap between financing of trade and the achievement of the development goals of developing and emerging economies by fostering South-South trade flows. The goal was to tackle the difficulties associated with access to trade finance in the fragile markets of the South aimed at spurring and stabilising economic growth.
The network promotes information sharing, building trust and encouraging sharing of common lessons, deals and opportunities, effective practices for entering new markets and financing non-traditional goods and services.
At the opening ceremony Kenyan President Uhuru Kenyatta discussed the need to prioritize African countries in terms of resource development, trade promotion, and mechanisms for sustainable development.
The conference talks revolve around sustainable development; increased investment towards the development of the ‘green’ economy as well as low-income countries; and investment reforms. They also touch on dispute settlement; the encouragement of investments in information technology; the promotion of economic capacity in least developed countries; and improvements to the global system of investment agreements.
Meanwhile the acting MD NEXIM has recently advised exporters in Nigeria to take advantage of N500billion non-oil Export Stimulation Facility (ESF) as well as the expansion of the export credit Rediscounting and Refinancing Facilities (RRF) to boost their operations and create jobs.
NEXIM provides export credit guarantee and export credit insurance facilities to its clients. It also provides credit in local currency to its clients in support of exports in addition to establishing and managing funds connected with exports.