Governor Emeka Ihedioha of Imo State has secured a $50million worth of investment from the Africa Export Import Bank.
The deal, is an evident that the governor’s engagement with international development agencies to aid his administration in rebuilding the state, is yielding desired results.
The AfrExim Bank is an export-import Bank which strongly supports expansion, diversification, promotion and development of intra and inter-African trade.
The bank is set to make Imo State a huge investment hub, by setting up an Africa Quality Assurance Centre (AQAC) that would serve the South East and South South regions.
The $50 million (over N18 billion) investment centre under the quality assurance facility of the bank, will provide certification and inspection services for various products for exports to the international market.
It will also provide capacity building to industrialists, make Imo State a business hub, and more importantly, provide employment opportunities and boost economic development of Imo State.
The centre, which is the first of its kind in the entire South East and South South is an indication of the responses of the investment drive of the governor as well as the remarkable improvement on the Ease of Doing Business rating of Imo State.
The Centre is a reflection of the efforts of Governor Ihedioha to restore confidence of investors and development partners in Imo as an investment destination.
Governor Ihedioha had embarked on a trade and investment visit to the Annual General Meeting of the AfrExim Bank, held in Moscow between June 20 – 22.
The meeting was a melting point for international fund custodians, fund managers, investors and multi lateral finance agencies.