Post by Trade facilitator on Aug 17, 2012 16:02:53 GMT 1
Nigerian Export Import Bank (NEXIM) and Infrastructure Bank on Thursday agreed to forge a partnership that could see the deepening of the non-oil sector and expand exports.
The partnership agreement was reached when the Managing Director of NEXIM Bank, Roberts Orya, and his team visited the Infrastructure Bank in Abuja.
The maiden meeting of the two development institutions was essentially to explore areas of mutual cooperation that would deepen inter-agency cooperation between them as well as explore avenues for transactional risk sharing in co-financing arrangement projects that have export content.
Explaining reasons for the visit, Orya said the NEXIM Bank was interested in building synergies and capacities to support government’s transformation agenda, particularly as the bank was established to diversify the Nigerian economy from the mono product of oil.
“We believe that we need to work with institutions like the Infrastructure Bank to be able to actualise the banks’ mandate,” he said.
At the meeting, Orya informed Adekunle Oyinloye, the Managing Director of Infrastructure Bank and his team of some of NEXIM Bank’s key infrastructural projects and initiatives that they would like to see collaboration between the two institutions.
The first, according to him, is the sea link project, which is basically a maritime transport infrastructure conceived to enhance trade volumes within the ECOWAS sub-region and even the Central African region.
The sea link facilitated by the bank was initiated due to huge challenges that a lot of Nigerian exporters face in exporting their goods within the region and even to the neighbouring countries since there is no maritime transportation that makes for easy movement of goods and people in the region.
He further said the visit was also to explore some other transactional relationship on some of the projects that NEXIM has funded, which for instance would need some kind of infrastructure type of financing arrangement that would help make the projects viable and sustainable and consequently galvanise what the bank is doing.
Orya also sought the partnership of the Infrastructure Bank in its commitment to co-financing and refinancing arrangements of infrastructure-type transactions, like hotel development as tourism infrastructure to support the national tourism master plan.
Highlighting specific areas of intended collaboration further, Orya told the house that NEXIM Bank has made huge investments in agriculture, solid minerals, services, explaining that infrastructure support is needed so that some of the current challenges can be tackled.
He also mentioned the bank’s extensive role in deepening of the creative and entertainment industry due to its enormous potential in terms of creating jobs and generating exchange rate and sought partnership with the Infrastructure Bank to deepen the sector and promote export in line with government’s present policy initiative.
In response, Oyinloye commended strides so far made by the NEXIM Bank’s management to stimulate the non-oil sector, assuring of their readiness to work with Orya and his team.
He said that the Infrastructure Bank has been repositioned and refocused to take up new roles and was quite willing to partner with NEXIM Bank on key projects that would help drive the president’s transformation agenda. He pledged that the bank would be ready to offer advice and particularly ensure that the conceived projects are bankable.
“We would be glad to provide the skills where required and do let us know at what point you want us to play a role,” Oyinloye assured.
Source: www.businessdayonline.com/NG/index.php/markets/investor/43000-nexim-infrastructure-bank-partner-to-deepen-exports
The partnership agreement was reached when the Managing Director of NEXIM Bank, Roberts Orya, and his team visited the Infrastructure Bank in Abuja.
The maiden meeting of the two development institutions was essentially to explore areas of mutual cooperation that would deepen inter-agency cooperation between them as well as explore avenues for transactional risk sharing in co-financing arrangement projects that have export content.
Explaining reasons for the visit, Orya said the NEXIM Bank was interested in building synergies and capacities to support government’s transformation agenda, particularly as the bank was established to diversify the Nigerian economy from the mono product of oil.
“We believe that we need to work with institutions like the Infrastructure Bank to be able to actualise the banks’ mandate,” he said.
At the meeting, Orya informed Adekunle Oyinloye, the Managing Director of Infrastructure Bank and his team of some of NEXIM Bank’s key infrastructural projects and initiatives that they would like to see collaboration between the two institutions.
The first, according to him, is the sea link project, which is basically a maritime transport infrastructure conceived to enhance trade volumes within the ECOWAS sub-region and even the Central African region.
The sea link facilitated by the bank was initiated due to huge challenges that a lot of Nigerian exporters face in exporting their goods within the region and even to the neighbouring countries since there is no maritime transportation that makes for easy movement of goods and people in the region.
He further said the visit was also to explore some other transactional relationship on some of the projects that NEXIM has funded, which for instance would need some kind of infrastructure type of financing arrangement that would help make the projects viable and sustainable and consequently galvanise what the bank is doing.
Orya also sought the partnership of the Infrastructure Bank in its commitment to co-financing and refinancing arrangements of infrastructure-type transactions, like hotel development as tourism infrastructure to support the national tourism master plan.
Highlighting specific areas of intended collaboration further, Orya told the house that NEXIM Bank has made huge investments in agriculture, solid minerals, services, explaining that infrastructure support is needed so that some of the current challenges can be tackled.
He also mentioned the bank’s extensive role in deepening of the creative and entertainment industry due to its enormous potential in terms of creating jobs and generating exchange rate and sought partnership with the Infrastructure Bank to deepen the sector and promote export in line with government’s present policy initiative.
In response, Oyinloye commended strides so far made by the NEXIM Bank’s management to stimulate the non-oil sector, assuring of their readiness to work with Orya and his team.
He said that the Infrastructure Bank has been repositioned and refocused to take up new roles and was quite willing to partner with NEXIM Bank on key projects that would help drive the president’s transformation agenda. He pledged that the bank would be ready to offer advice and particularly ensure that the conceived projects are bankable.
“We would be glad to provide the skills where required and do let us know at what point you want us to play a role,” Oyinloye assured.
Source: www.businessdayonline.com/NG/index.php/markets/investor/43000-nexim-infrastructure-bank-partner-to-deepen-exports
