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Adeosun discusses infrastructure funding with China Dev’t Bank

By Emma Ujah, Abuja Bureau Chief

Abuja—The Minister of Finance, Mrs Kemi Adeosun, yesterday, in Abuja, held discussions with a delegation of the China Development Bank to explore how to better fund infrastructure in Nigeria.

Finance Minister, Mrs Kemi ADEOSUN

Mrs. Adeosun said that China Development Bank has a huge balance sheet and capable of funding any project in the country.

According to her, “China Development Bank is a very important bank with a large balance sheet and a very good track record in funding major projects and we are very excited to have you here.

“We are repositioning the Nigerian economy and we are opening up opportunities in a number of areas such as power,infrastructure, agriculture and exports.

“We want to grow the economy and create jobs for our people and of course that means capital. We have a very good relationship with China and we have very strong commitment from China at the highest level of your support.

“What we hope we will be doing is the specifics of how to get the China Development Bank to actively close some of the transactions that you are looking at and we are interested in partnering with you.”

The minister said that the administration of President Muhammadu Buhari was working hard to increase revenue generation and ensure prudent application of available funds.

According to her, the government would partner with the Chinese with a view to increasing the funding of the infrastryucure sector, which would serve as a catalyst   to rapid economic development of the country.

In his remarks, the Vice President of the bank, Mr.   Zheng Zhijie, said that the meeting is a follow up to the visit of President Muhammadu Buhari to China in 2016 where it was agreed to deepen Chinese investments in Nigeria.

He said since then, the level of trade relationship between both countries have been on the increase, adding that the visit of the bank officials was part of measures to deepen the relationship.

 

 

 


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