Pan-African multilateral financial institution the African Export-Import Bank signed two agreements with the Anambra State Investment Promotion and Protection Agency (ANSIPPA) – a state-owned investment agency responsible for private sector-led development in Anambra State, southeastern Nigeria.
The agreements include a mandate letter for the provision of financial advisory services. These services aim to support the state’s initiatives in raising the necessary capital for three strategic projects and facilitating the development of the Anambra Diaspora Fund.
Under the terms of the first agreement, Afreximbank will provide financial advisory services amounting to $200 million for the development of three strategic projects in the State of Anambra. These include the Ikenga Mixed-Use Industrial City Project; the Anambra Export Emporium; and the Akwaihedi Unubi Uga Automotive Industrial Park.
Additionally, under the second agreement signed with ANSIPPA, Afreximbank will support the establishment of the operational and governance framework for the Anambra Diaspora Fund – a facility aimed at leveraging the resources and expertise of the diaspora community for the development of the State of Anambra. Afreximbank will also offer advisory services for the Anambra Intra-City Rail Master Plan Project, a rail system aimed at improving ease of transport in Nigeria.
Both agreements aim to position Anambra State as a competitive investment, technology and tourist destination.
