"Afreximbank invests all-time $36bn in Nigeria economy"

" Afreximbank invests all-time $36bn in Nigeria economy \r\nThe African Export-Import Bank (Afreximbank) has invested over $36 billion into the Nigerian economy since its creation in 1993 through trade and project financing.\r\n\r\nThis comes as the bank targets $43 billion in trade and investment deals at the Intra-African Trade Fair (IATF2023) holding in Cairo, Egypt in November 2023.\r\n\r\nNigeria directly benefited from trade and investment deals worth over $18 billion in the previous IATF.\r\n\r\nKanayo Awani, the bank\u2019s executive vice president, intra-African trade bank, disclosed this on Monday at the Nigeria Intra-African Trade Fair (IATF2023) high-level business road show in Lagos. She said the support has covered a range of sectors and industries, including, among others, energy, transport, financial services, healthcare, manufacturing, and trade infrastructure.\r\n\r\n\u201cIn addition, Afreximbank remains committed to contributing to Nigeria\u2019s economic growth as evident in several flagship projects underway such as the $300m 500-bed Africa Medical Centre of Excellence (AMCE) ongoing in Abuja in partnership with King\u2019s College, London, Afreximbank Africa Trade Centre (AATC), also in Abuja, and the Africa Quality Assurance Centre (AQAC) in Shagamu, Ogun State, which is already operational,\u201d she said.\r\n \r\n\r\nAs part of the development of the auto sector, she said the Bank has also provided a grant to support the development of the Nigerian automotive policy that will help ensure a competitive and vibrant auto sector in Nigeria.\r\n\r\n\u201cThe inaugural trade fair held in Cairo, Egypt in 2018 was a resounding success. This was followed by an even more successful IATF2021 hosted in Durban, South Africa in 2021,\u201d she said.\r\n\r\nAwani said the two editions of the IATF collected participants from 130 countries globally, with more than 2,500 exhibitors from 77 countries.\r\n The two previous editions generated over $74 billion in trade and investment deals, providing a glimpse of the immense potential that exists for intra-African trade and investment, she said. \r\n \r\n "

"Afreximbank invests all-time $36bn in Nigeria economy"

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