NEXIM Bank Woos Chinese Investors with $100m Investment Guarantees
The Nigerian Export-Import Bank (NEXIM Bank) is offering investment guarantees worth $100 million to Chinese investors and their local trade partners interested in investing in critical sectors of the Nigerian economy.
Managing Director/Chief Executive Officer, NEXIM Bank, Mr. Abba Bello, disclosed this in Beijing, China, while presenting a paper titled: ‘Discover Nigeria’, at the 10th China Overseas Investment Fair, held recently.
Abba, in the paper, obtained by THISDAY yesterday, listed the critical sectors as infrastructure development for international trade, agriculture and agro-processing, light manufacturing, solid minerals and services.
He stressed that the sectors listed above have high growth potential for trade and investments, as well as foreign exchange earnings and employment generation. According to him, they also align with both the government’s development plans and NEXIM Bank’s strategic focus, noting that foreign investors in these sectors of the economy would gain numerous investment incentives especially from the Nigeria Investment Promotion Commission (NIPC), to encourage their investments.
He said: “They will also qualify for funding and advisory services from NEXIM Bank. “NEXIM Bank presents partnership with Chinese investors and their Nigerian trading partners in the following areas: facilitation of Buyers’/ Suppliers’ Credit arrangements for equipment and provision of complimentary project financing for local components of project costs to investors seeking to establish industries in Nigeria.
“Provision of Investment Guarantees of up to US$100 million to investors to protect foreign direct investments (FDIs) against political and noncommercial risks. Provision of Guarantees/Counter Guarantees to Lenders/Guarantors to facilitate exports of Chinese capital goods to Nigeria in collaboration with any financier/guarantor from China. “Promoting sustainable operations by ensuring steady supply of raw materials and other inputs for Investors in the manufacturing and agroprocessing sectors.