Ihedioha secures support of AfriExim Bank to revamp Imo Economy

…Imo, most strategically positioned state in the South East, Bank President

Imo State Government has been assured of the support and cooperation of the AfriExim Bank towards revamping the economy of the state.

The president of the bank, Prof. Benedict Okey Oramah, disclosed this during a meeting between officials of Imo State Government held at the Winter Conference Hall of Radisson collection, Moscow, Russia.

The aim of the meeting was for the Imo State government to pitch to the bank, the development and investment opportunities in the state and the need for an increase in internally Generated Revenue, through the boost of FDIs and Public-private partnership.

Ihedioha, in his presentation, while noting the need for improved and structured financial facilities to enable the process of repositioning and actualizing the financial condition of Imo state, also highlighted key areas his administration intends to revamp, assuring that the faith and confidence of the people in the government has been restored.

He pointed out the key sectors of the state, which include; agriculture, transportation (given the strategic location of the state, it possess great potential for logistics and transportation through the air, land and waterways), electricity, Infrastructural rehabilitation and redevelopment will be the focal point for the rebuilding of the state.

Also brought to light, were the viable and underutilized potentials of the state’s resources such as the maritime, the positive exponential effect of the state’s financial if the fiscal policy is well structured.

The President of Afreximbank expressed satisfaction with the presentations and demonstrated keen interest in Imo State as the most strategically positioned state in the South-east. He reiterated that Afreximbank is willing to assist the new government of Imo State to attract Foreign Direct Investments which will lead to an exponential growth of the state’s IGR and GDP.

Prof. Oramah stated that the bank currently has major key players in the maritime sector that will be willing to invest in the commercialization of the Imo State waterways.