By Chinonso Alozie, Owerri

The Imo state governor, Emeka Ihedioha, has said that the eighteen billion naira investment in Imo state, by Afri-Exim bank, was for the expansion of trade.

Ihedioha spoke in a statement by his Chief Press Secretary, Chibuike Onyeukwu, yesterday in Owerri, said that it was part of the government’s policy on ease of doing business.

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The statement claimed that Afri-Exim investment would serve both the South East and South-South regions.

According to the statement, “Governor Emeka Ihedioha’s engagement with international Development Agencies to aid his administration in the task of rebuilding the state, has again yielded desired results.

“The Africa Export-Import Bank is set to make Imo State a huge investment hub, by setting up an Africa Quality Assurance Centre (AQAC) for the entire South-East and South-South regions in the country.

“The Afri-Exim Bank is an export-import Bank which strongly supports expansion, diversification, promotion and development of intra and inter-African trade.”

“The $50 million (N18 billion) investment/Centre under the quality assurance facility of the bank, will provide certification and inspection services for various products for exports from Imo State and other parts of the regions to the international market.

“The centre, which is the first of its kind in the entire South-East and South-South regions, is an indication of the responses of the investment drive of the governor as well as the remarkable improvement on the Ease of Doing Business rating of Imo State.”

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It added: “It will also provide capacity building to industrialists, make Imo State a business hub, and more importantly, provide employment opportunities and boost the economic development of Imo State.

“The Centre is a reflection of the efforts of Governor Ihedioha to restore the confidence of investors and development partners in Imo State as an investment destination.

“Recall that Governor Ihedioha had embarked on a Trade and Investment working visit to the Annual General Meeting of the Afri-Exim Bank, held in Moscow from June 20th – 22nd, 2019.

“The meeting was a melting point for international fund custodians, fund managers, investors and multilateral finance agencies.”

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