Project funding udoma meets china exim bank

A great topic!

Udoma Udo Udoma, the former Minister of Budget and National Planning in Nigeria, met with the China Exim Bank to discuss project funding opportunities for Nigeria.

Here are some key points from the meeting:

Meeting Details

• Date: October 2016
• Location: Beijing, China
• Attendees: Udoma Udo Udoma (Minister of Budget and National Planning, Nigeria), Zhang Chunlin (President, China Exim Bank), and other officials from both countries.

Objectives

• To explore potential funding opportunities for Nigeria's infrastructure development projects through the China Exim Bank.
• To discuss the possibility of China Exim Bank providing financing for Nigeria's 2017 budget.

Key Projects Discussed

• The Lagos-Kano Railway Modernization Project: A $1.2 billion project aimed at upgrading the railway network between Lagos and Kano, Nigeria's commercial and industrial hubs.
• The Abuja-Kaduna-Zaria-Kano Highway Project: A $1.5 billion project aimed at upgrading the highway network between Abuja, Kaduna, Zaria, and Kano.
• The Mambilla Hydroelectric Power Project: A $5.7 billion project aimed at building a 3,050 MW hydroelectric power plant in Taraba State, Nigeria.

Funding Arrangements

• The China Exim Bank expressed interest in providing financing for the projects, with a potential funding package of up to $10 billion.
• The bank also offered to provide technical assistance and expertise to support the implementation of the projects.

Next Steps

• The meeting concluded with an agreement to establish a joint working group to finalize the details of the funding arrangements and project implementation.
• The working group was tasked with conducting a feasibility study and preparing a detailed project proposal for submission to the China Exim Bank.

Impact

• The meeting marked a significant step forward in Nigeria's efforts to attract foreign investment and financing for its infrastructure development projects.
• The potential funding package from the China Exim Bank could help to address Nigeria's infrastructure deficit and support the country's economic growth and development.

Overall, the meeting between Udoma Udo Udoma and the China Exim Bank was an important step in strengthening the economic ties between Nigeria and China, and in supporting Nigeria's efforts to develop its infrastructure and economy.