Economy

NEXIM extends credit facility to Abia for Enyimba Economic City

The African Export-Import Bank (Afreximbank) and Nigeria Export-Import Bank (NEXIM) have announced a $750,000 grant to support the charting of the main channel of the Niger-Benue river in Nigeria, as part of the Regional Sealink Project, which aims to bridge the gap in maritime transport infrastructure and improve trade connectivity in West Africa.

The Nigeria Export-Import Bank (NEXIM) has extended credit facility to Abia State Government to assist in the development of the Enyimba Economic City (EEC) in the state.

This was disclosed in Aba by the special adviser to Abia State Governor on Social Investment, Chinenye Nwogu, while speaking during the launch of Abia SME Bank.

Nwogu said NEXIM provided the credit facility due to the hugeness of the project and the economic benefit it will bring to Aba, Abia State and Nigeria as a whole.

He said the Abia SME bank was established to make the access of funds easier thereby tackling one of the major problems facing SMEs in the state.

“The establishment of the bank was in response to the challenges posed in accessing funds by traders and other businessmen.

“Government sees the Aba Chamber of Commerce, Industries, Mines and Agriculture (ACCIMA) as a strong ally in her bid to solve the problems of SMEs in the state and would therefore want it to partner the bank for the benefit of its members.

“The bank belongs to our people and the traders, government will in future have no hands in the running of the bank”.

Nwogu enjoined the business community to be ambassadors and promoters of the bank to ensure its sustainability.

President of ACCIMA, Chief Lawrence Obeta while commending Gov Okezie Ikpeazu’s administration for the establishment of the Abia SME bank, said the chamber sees the bank as hers.

He promised that they in the commerce world would do everything possible to ensure the bank did not go the way of others which went under after few years of existence.

Representatives of various business groups in the state promised to patronize the bank and asked for its branches to be spread across the various markets in Abia State

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