African Export-Import Bank, also referred to as Afreximbank has indicated to extended credit facility to the Abia State Government to assist in the development of the Enyimba Economic City (EEC) in the state.
This was disclosed in Aba by the Special Adviser to the Abia State Governor on Social Investment, Chinenye Nwaogu while speaking during the launch of Abia SME Bank.
Nwaogu a front runner of the Enyimba Economic City project revealed that Afreximbank provided the credit facility due to the enormity of the Enyimba Economic city project and the economic benefit it would bring to Aba, Abia State and Nigeria as a whole.
He posited that the Abia SME bank was established to make the access of funds easier thereby tackling one of the major problems facing SMEs in the state.
He stated that government sees the Aba Chamber of Commerce, Industries, Mines and Agriculture (CIMA) as a strong partner in her bid to solve the problems of SMEs in the state and would therefore want it to collaborate with the bank for the benefit of its members.
Nwaogu urged the business community to be ambassadors and promoters of the bank to ensure its sustainability.
President of CIMA, Chief Lawrence Obeta, while commending the administration of Governor Okezie Ikpeazu for the establishment of the Abia SME bank, promised that everything would be done to ensure the bank did not go the way of others.
Representatives of various business groups in the state promised to patronize the bank and asked for its branches to be spread across the various markets in the State.
Recall that in 2017 Governor Okezie Ikpeazu had initiated the process of setting up an SME Micro Finance Bank to support the growth of SMEs in the state; the event was to formally introduce the bank and its products to the Aba Business Community on the foundation of the Aba Chamber of Commerce.