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Udoma meets China Exim Bank over projects funding

Sen. Udoma Udo Udoma, Minister of Budget and National Planning.

Sen. Udoma Udo Udoma, Minister of Budget and National Planning.

The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, has commenced follow-up discussions with the management of the Chinese EXIM Bank in Beijing, China, over funding of some projects.

This is contained in a statement issued by the Minister’s Media Aide, Mr James Akpandem and made available to newsmen on Thursday in Abuja.

The statement said that the meeting with the bank would lead to the implementation of the various projects discussed during the visit of President Muhammadu Buhari to China.

“President Buhari during a State Visit in April this year reached various agreements with the Chinese Government on development assistance, particularly the funding of some critical infrastructure in the country.

“The visit by the President further bolstered Nigeria’s participation in the 10 critical areas under the Forum on China Africa Cooperation (FOCAC),” it said.

According to the statement, Udoma is in China to attend the FOCAC Coordinators meeting.

The statement said that Udoma appealed for financial assistance from EXIM Bank to enable the country to execute some of the basic infrastructure projects to boost the economy.

“Our relationship with China is very important to us, which was why our President led a big delegation on a State visit to China in April this year.

“We are quite impressed with the infrastructural development in China and believe that China has a lot to teach us in Nigeria.

“China has a lot to teach us in Nigeria; particularly we will like the support of China in the area of infrastructure development,” the statement quotes Udoma as saying.

Responding, the Vice-President of EXIM Bank, Mr Yuan Xingyong, said that China enjoyed very sound relationship with Nigeria.

“Nigeria is important to the bank because the two have been doing good business together and the country has a good record of repayment.

“The bank is willing to deepen the bilateral cooperation with the country and extend financial support for development purposes,” he said.

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