Mkpoikana Udoma
Port Harcourt — The United States Chamber of Commerce has announced its commitment of $320 million towards financing Small and Medium-scale Enterprises, SMEs, mortgage and women empowerment in Nigeria.
This is as Vice President Kashim Shettima, who is leading Nigeria’s delegation and representing President Bola Tinubu at the United Nations General Assembly, UNGA79, has met with members of his delegation to strategise on Nigeria’s engagements in New York.
At a US-Nigeria Executive Business Roundtable, hosted by the US Chamber of Commerce, led by Ms. Nisha Biswal of the American International Development Finance Corporation, announced that with a portfolio of $1 billion, it was investing $200 million in mortgage refinancing in Nigeria.
Biswal said the sum of $100 million has been earmarked for FCMBank to finance SMEs in Nigeria, with particular interest in women empowerment as she also said the American Chamber remained committed to working with Nigerians in the development and pursuit of sustainable economic policies.
The US Chamber of Commerce also announced that $20 million has been approved for a firm, Robust International, for processing of cashew nuts in Nigeria.
Appreciating the gesture of the group, Vice President Shettima reiterated President Tinubu’s commitment to investor-friendly policies.
He said: “I urge you to give Nigeria the benefit of the doubt. The current administration led by President Bola Ahmed 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.”
Apart from President Tinubu’s national statement delivery, Vice President Kashim Shettima is also expected to meet with the Secretary General of the United Nations.
Aside other heads of states lined up to meet with the Vice President, there are also scheduled meetings with the head of the African, Caribbean and Pacific States; the President of the World Trade Organization, 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.
