UNGA: U.S. commits $320m in mortgage, SMEs in Nigeria
The United States Chamber of Commerce has expressed its willingness to invest about 320 million dollars in mortgage refinancing and Small and Medium Enterprises (SMEs) in Nigeria.
This is contained in a statement issued by spokesperson of Vice-President Kashim Shettima, Mr Stanley Nkwocha.
The Deputy Chief Executive Officer of the U.S. International Development Finance Corporation, Ms Nisha Biswal made this known.
Biswal spoke at a US-Nigeria Executive Business Roundtable hosted by the US Chamber of Commerce as part of activities at the ongoing 79th Session of the United Nations.
She explained that with a portfolio of one billion dollars, the chamber would invest 200 million dollars in mortgage refinancing in Nigeria.
“Also the sum of 100 million dollars has been earmarked for FCMB to finance SMEs in Nigeria, with particular interest in women empowerment.
“The US Chamber of Commerce also announced that 20 million dollars has been approved for a firm, Robust International, for processing of cashew nuts in Nigeria.”
Biswal emphasised that the American Chamber remained committed to working with Nigerians in the development and pursuit of sustainable economic policies.
Responding, Vice-President Shettima, who is leading the Nigerian delegation at the ongoing United Nations General Assembly (UNGA), reiterated President Bola Tinubu’s commitment to investor-friendly policies.
“I urge you to give Nigeria the benefit of the doubt. The current administration led by President Bola Tinubu is the most investor-friendly administration in the history of Nigeria.
“When fuel subsidy was an albatross around Nigeria’s neck, President Tinubu, from day one, hit the ground running by withdrawing the fuel subsidy and unifying the multiple opaque foreign exchange markets.”
Earlier, the Minister of Foreign Affairs, Amb. Yusuf Tuggar, led other members of the delegation to brief the Vice-President on the activities and itinerary lined up for him in New York.
Tuggar, while outlining the programmes and activities, said that the Vice-President was expected to deliver President Tinubu’s national statement at the General Debate of the UNGA.
He added that apart from President Tinubu’s national statement delivery, Shettima is also expected to meet with the Secretary General of the United Nations.
Similarly, aside from other heads of states lined up to meet with the Vice-President, there are also scheduled meetings with the heads of the African, Caribbean and Pacific States.
Shettima will also meet with the President of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala; Director-General of the International Atomic Agency, and multinational companies, among others.
Also on the itinerary of the Vice-President is a meeting with the Bill and Melinda Gates Foundation and a host of other international partners.
