AFREXIMBANK To Invest $200million In Ogun Cargo Airport,250-Bed Hospital, Others - EDU-BIZNEWS


Wednesday, June 30, 2021

AFREXIMBANK To Invest $200million In Ogun Cargo Airport,250-Bed Hospital, Others

 AfreximBank has set aside huge sum of $200million for  implementation capital projects including 250-bed hospital in Abeokuta, Cargo Airport in Remo axis as well as strategic roads and other infrastructural  initiatives of the Prince Dapo Abiodun's administration in Ogun State .

The bank also disclosed that it would be investing in Africa’s health sector to produce vaccines and other drugs for the use of the people and partner government to complete the 250-bed hospital project in the state capital

The President/Chairman, Board of Directors, AfreximBank, Mr. Benedict Oramah who made this known at the Governor's office, Oke-Mosan, Abeokuta, revealed that the bank would  provide technical assistance to the State government, which could be a grant.

Oramah said  that the bank would use its projects preparation facility to prepare projects in the State,  saying, "under the $200m envelope that I mentioned, we are willing to provide technical assistance which can be a grant, we will look at how we can support you to develop some ideas and also provide advisory services.”

The Chairman commended the state government for its  its infrastructural development, said the bank was also interested in making road more accessible to investors, 

"We've seen opportunities to support the infrastructural development that is ongoing in the State, the cargo airport will be a heteropoly city. Our ‘Quality Assurance Testing Inspection Center' in the area will be critical for implementing this airport and we can assure you that it is something we would be interested in developing with you”, he said.

Oramah who noted that the bank is aware that the state is rich in agriculture opined that it would support efforts being made to impact the lives of the people through various products in the agriculture sector.

"I can assure you, Mr. Governor that we will be very willing and ready to explore all these opportunities as partners, providing food range of products with necessary technical assistance, advisory, project preparation facility and of cause lending to the state," he said.

Governor Dapo Abiodun while responding          assured that the Quality Assurance Center, which is a testing ground for export would complement its International Cargo Airport, adding  that his administration would continue to do all it could to make the State the destination of choice for investors.

Abiodun said his government had in the last few months embarked on massive construction of roads across the State, particularly the Ijebu-Ode-Epe and Agbara-Lusada-Atan roads among others, noting that his administration would be glad to receive support from the bank.

"We have built these roads at great expense to the State, these roads are Federal roads, they are also commercial roads. We invite AfreximBank to partner with us, as we intend to concession the roads and toll them, so that we can recover our investment.”

He also  called on the bank to support  his administration in its quest to build an International   Cargo Airport that would be a cargo hub for the country and the continent of Africa as a whole, saying “construction has started, it is our hope that it will be completed sometime before the end of next year”.

The Governor added that his government intends to partner with Afreximbank to create a Micro, Small and Medium Enterprises (MSMEs) fund, that would be targeted at such industries and also create clusters that would allow them access lands at a reduced price.

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