AfreximBank to support Ogun infrastructure with $200m

The African Export-Import Bank (Afrexim) has disclosed its plans to support infrastructural development in Ogun state with an envelope of $200million.

The fund, according to the bank, will be dedicated towards projects and other developmental initiatives embarked upon by the incumbent administration in the state.

President and Chairman of the Board of Directors of the bank, Benedict Oramah, who made this known when he led management of the bank on a courtesy visit to Governor Dapo Abiodun at his Oke-Mosan office, Abeokuta, on Monday, equally said the bank would partner Ogun in ensuring that the 250-bed Specialist Hospital, Abeokuta, is completed and begins operations soon.

Oramah, while noting that the bank has been investing heavily in the health sector in Africa to develop vaccines and other drugs, declared that Afrexim Bank is also ready to collaborate with the state-owned Gateway Pharmaceuticals in similar direction.

“We are willing to dedicate an envelope of $200million for projects and initiatives here in Ogun state; we will also be happy to see the hospital project. We will be very pleased to look at this asset and see how we can partner with your government. I assure you that we will consider the Gateway Pharmaceuticals in our plans to invest in the health sector,” he hinted.

Earlier in his remarks, Governor Abiodun noted that the Quality Assurance Testing Center would complement the International Cargo Airport, adding his administration would continue to do all it can to make Ogun the destination of choice for investors.

Abiodun said that his administration had in the last few months embarked on the construction of roads across the state, especially the Ijebu-Ode-Epe, Agbara-Lusada-Atan Roads, which according to him, are capital intensive, expressing his administration’s readiness to receive support from the bank.

“We have built one and we are building another at great expense to the state. These roads are federal roads and they are also commercial roads. We invite Afrexim Bank to partner with us,” he said.