NEXIM bank, BDEAC sign partnership agreement on regional trade

NEXIM Bank, BDEAC partner on regional trade

The Managing Director of the Nigerian Export-Import Bank (NEXIM) Mr. Abba Bello has said that NEXIM bank and the Development Bank of the Central African States (BDEAC) have signed a Memorandum of Understanding MoU on promotion of regional trade and investments.

Bello, while receiving a delegation from BDEAC in his office on Monday in Abuja , led by the President, Mr. Fortunato Ofa Mbo Nchama, said that the two organisations also discussed areas of collaboration towards building capacity and exchange of information.

The partnership is expected to leverage on opportunities in the areas of technical assistance/capacity building, information exchange ,as well as transactional relationships, including lines of credit, guarantees and co-funding arrangements.

Earlier in his remarks, the President of the Development Bank of the Central African States (BDEAC) said that the collaboration with NEXIM will foster a mutually beneficial relationship by strengthening economic and trade cooperation with Nigeria towards achieving one of the core objectives of the Economic and Monetary Union of Central Africa (CEMAC).

The Managing Director of NEXIM, expressed the pleasure of the Bank in the current efforts to deepen the relationship with BDEAC.

Bello noted that the benefits of such collaboration to regional development and growth cannot be overemphasised.

He reiterated the Bank’s commitment to ensuring that a workable implantation plan is articulated towards achieving the objectives of the MOU.

In this regard and to formalise the relationship, an MoU was signed between the two institutions with NEXIM represented by the Managing Director/Chief Executive, Mr Abba Bello, while Mr. Fortunato Ofa Mbo Nchama, President of the Development Bank of the Central African States (BDEAC) represented his institution.

Mathew Dadiya, Abuja