{"id":471571,"date":"2021-05-31T11:17:06","date_gmt":"2021-05-31T11:17:06","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=471571"},"modified":"2021-05-31T11:17:06","modified_gmt":"2021-05-31T11:17:06","slug":"afreximbank-and-nexim-announce-us750000-grant-to-improve-nigerias-inland-waterways-operations","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/05\/31\/afreximbank-and-nexim-announce-us750000-grant-to-improve-nigerias-inland-waterways-operations\/","title":{"rendered":"Afreximbank and NEXIM Announce US$750,000 Grant to Improve Nigeria\u2019s Inland Waterways Operations"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p><strong>Cairo\/Abuja, 31 May 2021: \u2013\u00a0<\/strong>African Export-Import Bank (Afreximbank) and Nigeria Export-Import Bank (NEXIM) have announced a US$750,000 grant to support the charting of the main channel of the Niger-Benue river in Nigeria, as part of the Regional Sealink Project, which\u00a0aims to bridge the gap in maritime transport infrastructure and improve trade connectivity in West Africa.<\/p>\n<p>Afreximbank provided a grant of US$350,000 to supplement the US$450,000 made available by NEXIM, thus completing the financing of the barthymetric survey and hydrograhic and hydrological studies of the lower Niger-Benue river. The studies will be undertaken under a joint collaboration framework between the Nigerian Navy Hydrography Department, Nigeria\u2019s National Inland waterways Authority (NIWA) and Sealink Consortium Partners.<\/p>\n<p>The completion of the studies will support the early commencement of the inland waterways operations planned under the Regional Sealink Project, by enabling the development of the inland waterways navigation chart as well as river ports and anchorage plans that will facilitate both bulk commodities and general cargo shipping, thereby boosting Nigeria\u2019s bulk commodities trade and exports.<\/p>\n<p>Inland waterways are a key transport mode that plays a vital role in facilitating the efficient and cost-effective movement of goods and providing a competitive alternative to rail and road transport, while ensuring integration into the country\u2019s international logistics chain.<\/p>\n<p><strong>Prof. Benedict Oramah, President of Afreximbank<\/strong>, said:\u00a0\u201cThe project, which will facilitate regional transit, is timely given the recent commencement of trading under the African Continental Free Trade Agreement (AfCFTA).\u00a0The grant from Afreximbank and NEXIM will allow for the development of infrastructure that will eventually relieve road congestion and enable some bulky commodities and solid minerals to move by the river.\u00a0The project will not only enhance Nigeria\u2019s attractiveness as an investment destination, but also foster regional integration and trade in the ECOWAS region. In addition, it will facilitate the reduction of the level of informal trade, thereby promoting industrialisation and financial inclusion for Micro, Small, and Medium Enterprises (MSMEs).\u201d<\/p>\n<p><strong>Mr. Abubakar Abba Bello, Managing Director of NEXIM<\/strong>, said: \u201cThe execution of the Grant Agreement strongly aligns with the strategic\u00a0objectives\u00a0of Afreximbank and NEXIM in trade promotion and support for the development of trade facilitating and enabling infrastructure that will deepen the partnership engagements of both institutions to foster trade connectivity, especially under the African Continental Free Trade Area (AfCFTA). The partnership will also facilitate the implementation of the Regional Sealink project, thereby promoting hinterland, coastal and transit trade as well as the broadening of Nigeria\u2019s export basket with bulk commodities like solid minerals and agricultural products.\u201d<\/p>\n<p>The Regional Sealink Project is a trade facilitation initiative designed to address the critical logistics infrastructure gap towards facilitating and deepening inland and intra-coastal waterways operations. It was adopted by the Economic Community of West African States (ECOWAS) Commission as one of its seven priority projects under the ECOWAS Community Development Programmes. Its implementation is expected to mitigate some of the main barriers to regional integration and the growth of cross-border trade, especially trade in large volumes of bulk commodities.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Cairo\/Abuja, 31 May 2021: \u2013\u00a0African Export-Import Bank (Afreximbank) and Nigeria Export-Import Bank (NEXIM) have announced a US$750,000 grant to support the charting of the main channel of the Niger-Benue river in Nigeria, as part of the Regional Sealink Project, which\u00a0aims to bridge the gap in maritime transport infrastructure and improve trade connectivity in West Africa.<\/p>\n","protected":false},"author":536282,"featured_media":471574,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[16158,12591,11996,12046],"tags":[18530,2360,18531,18528,18529],"class_list":{"0":"post-471571","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-bank","8":"category-feature","9":"category-finance-en","10":"category-leaders-en","11":"tag-000-grant","12":"tag-afreximbank","13":"tag-improve-nigeria","14":"tag-nexim","15":"tag-us750","16":"post_format-post-format-aside","17":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Afreximbank and NEXIM Announce US$750,000 Grant to Improve Nigeria\u2019s Inland Waterways Operations - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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Our \u201cexaggerated pretensions\u201d inspire us. We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. We aspire to neutrality, but we assume our subjectivity\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.financialafrik.com\/en\/2021\/05\/31\/afreximbank-and-nexim-announce-us750000-grant-to-improve-nigerias-inland-waterways-operations\/\" \/>\n<meta property=\"og:site_name\" content=\"Financial Afrik\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/FinancialAfrik\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-31T11:17:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.financialafrik.com\/en\/wp-content\/uploads\/2021\/05\/Afreximbank.png\" \/>\n\t<meta property=\"og:image:width\" content=\"540\" \/>\n\t<meta property=\"og:image:height\" content=\"372\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Albert Savana\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Financialafrik\" \/>\n<meta name=\"twitter:site\" content=\"@Financialafrik\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Albert Savana\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/05\\\/31\\\/afreximbank-and-nexim-announce-us750000-grant-to-improve-nigerias-inland-waterways-operations\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/05\\\/31\\\/afreximbank-and-nexim-announce-us750000-grant-to-improve-nigerias-inland-waterways-operations\\\/\"},\"author\":{\"name\":\"Albert Savana\",\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/#\\\/schema\\\/person\\\/12e2e10e56f65df0540cb842b7b0ce22\"},\"headline\":\"Afreximbank and NEXIM Announce US$750,000 Grant to Improve Nigeria\u2019s Inland Waterways Operations\",\"datePublished\":\"2021-05-31T11:17:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/05\\\/31\\\/afreximbank-and-nexim-announce-us750000-grant-to-improve-nigerias-inland-waterways-operations\\\/\"},\"wordCount\":517,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/05\\\/31\\\/afreximbank-and-nexim-announce-us750000-grant-to-improve-nigerias-inland-waterways-operations\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Afreximbank.png\",\"keywords\":[\"000 Grant\",\"Afreximbank\",\"Improve Nigeria\",\"NEXIM\",\"US$750\"],\"articleSection\":[\"Bank\",\"Featured\",\"Finance\",\"Leaders\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/05\\\/31\\\/afreximbank-and-nexim-announce-us750000-grant-to-improve-nigerias-inland-waterways-operations\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/05\\\/31\\\/afreximbank-and-nexim-announce-us750000-grant-to-improve-nigerias-inland-waterways-operations\\\/\",\"url\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/05\\\/31\\\/afreximbank-and-nexim-announce-us750000-grant-to-improve-nigerias-inland-waterways-operations\\\/\",\"name\":\"Afreximbank and NEXIM Announce US$750,000 Grant to Improve Nigeria\u2019s Inland Waterways Operations - Financial Afrik\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/05\\\/31\\\/afreximbank-and-nexim-announce-us750000-grant-to-improve-nigerias-inland-waterways-operations\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/05\\\/31\\\/afreximbank-and-nexim-announce-us750000-grant-to-improve-nigerias-inland-waterways-operations\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Afreximbank.png\",\"datePublished\":\"2021-05-31T11:17:06+00:00\",\"description\":\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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