Afrexim Bank pledges $200m infrastructural development fund in Ogun State

Afrexim bank

The African Export-Import Bank (Afrexim) has pledged to support infrastructural development in Ogun state with $200 million.

This was revealed by the President and Chairman of the Board of Directors of Afrexim Bank, Benedict Oramah during a courtesy visit to the State Governor, Dapo Abiodun in Abeokuta.

According to The DailyTrust, the fund will be geared towards projects and other developmental initiatives embarked upon by the incumbent administration in the state. In line with this, Mr Oramah promised to collaborate with the state government to deliver an on-going 250-bed Specialist Hospital in the state capital.

Confirming the pledge, Mr Oramah said: ‘ We are willing to dedicate an envelope of $200m for projects and initiatives here in Ogun State. We will also be happy to see the hospital project. We will be very pleased to look at this asset and see how we can partner with your government.

I assure you that we will consider Gateway Pharmaceuticals in our plans to invest in the health sector. We will also look at how we can support you to help you develop some ideas, some wonderful ideas you have shared with me, we will also provide advisory services.”

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In addition, Oramah promised to work with the state government to make the developmental projects and infrastructure more accessible to investors. He emphatically stated that the bank would be interested in the cargo airport being built by the state.

In response to the kind gesture, the Governor of the state, Dapo Abiodun promised that his administration would continue to do all it could to make Ogun the destination of choice for investors. He further noted that the Quality Assurance Testing Centre would complement the International Cargo Airport.

Afreximbank is a pan-African multilateral trade finance institution created in 1993 with a mandate of financing and promoting intra and extra-African trade using credit, risk bearing, trade information and advisory services as tools. The bank is currently headquartered in Cairo, Egypt.