Afreximbank, Anambra State Government sign a $200 million development agreement.

The Africa Export-Import Bank (Afreximbank) has signed two hundred million dollar ($200 million) financial advisory mandates with the Anambra State Investment Promotion and Protection Agency.

The signing ceremony took place in Cairo, Egypt, on the sidelines of the ongoing 2023 Intra-African Trade Expo (IATF), Africa’s largest trade and investment expo.

It stated that the $200 million development pact would help the state “plan a trajectory for the future.”

The agreements concern capital-raising for major infrastructure projects aimed at transforming Anambra into a leading investment, technological, and leisure destination in Nigeria and Africa.

The funds will be used to construct critical initiatives such as the Ikenga Mixed-Use Industrial City Project, investments in the Anambra Export Emporium, and the establishment of the Akwaihedi Unubi Uga Automotive Industrial Park.

The second project focuses on the development of an operational and governance framework for the Anambra Diaspora Fund, with the goal of leveraging the diaspora community’s resources and experience for the benefit of the state.

In addition, the role includes capital-raising and financial advisory services for critical projects like the Anambra Intra-City Rail Master Plan Project.

These projects demonstrate Afreximbank’s continuous dedication to inclusive growth and long-term development.

Afreximbank President Benedict Oramah and Governor Soludo, along with Anambra Commissioner for Industry, Mr. Christian Udechukwu, and the Chief Executive Officer of the Anambra State Investment Promotion and Protection Agency, Mr. Mark Okoye, all backed these game-changing transactions.