NEXIM Bank pushes for im­proved trade at UNCTAD 2016

Daily Trust - - BUSINESS - By Fran­cis I Arinze

The act­ing Man­ag­ing Di­rec­tor and CEO, Nige­rian Ex­port-Im­port Bank (NEXIM Bank), Mr. Bashir Wali, has said ef­fi­cient trade reg­u­la­tion, within the frame­work of re­gional in­te­gra­tion, can help ex­tend pro­duc­tive ca­pac­ity of firms.

Speak­ing while par­tic­i­pat­ing at the 2016 qua­dren­nial con­fer­ence of the United Na­tions Con­fer­ence on Trade and De­vel­op­ment (UNCTAD), Nairobi, Kenya, Wali also said co­or­di­nat­ing the reg­u­la­tion de­sign process can help the co­op­er­at­ing coun­tries to achieve reg­u­la­tory co­her­ence.

Mr. Wali is also the Honorary Pres­i­dent of the Global Net­work of Ex­port-Im­port Banks and De­vel­op­ment Fi­nance In­sti­tu­tions (G-NEXID), whose ob­jec­tive is to boost bi­lat­eral and mul­ti­lat­eral co­op­er­a­tion among its mem­bers for the pro­mo­tion of South-South trade and in­vest­ment flows. He took over the lead­er­ship of the as­so­ci­a­tion in April 2016 fol­low­ing the exit of the for­mer Honorary Pres­i­dent and CEO of NEXIM Bank, Mr. Roberts Orya.

NEXIM Bank, last month, launched the N500 bil­lion Non-Oil Ex­port Stim­u­la­tion Fa­cil­ity (ESF) and the N50 bil­lion Ex­port Credit Redis­count­ing and Re­fi­nanc­ing Fa­cil­ity (RRF). The two fa­cil­i­ties are tar­geted at en­hanc­ing the com­pet­i­tive­ness of Nige­rian non-oil ex­ports by pro­vid­ing ex­port man­u­fac­tur­ers and op­er­a­tors in the value chain con­ces­sion­ary fi­nanc­ing of sin­gledigit in­ter­est rates.

The five-day meet­ing (July 17 - 22) was part of the UNCTAD’s tra­di­tion in which the agency holds a con­fer­ence every four years to con­sider trade and de­vel­op­ment chal­lenges and agree on col­lec­tive solutions.

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