By Tochukwu Bliss, Abuja
Export-Import Bank of the United States (EXIM) President and Chair, Reta Jo Lewis, has signed two new Memoranda of Understanding (MoUs) during EXIM’s inaugural Global Business Development Summit, in Washington D.C.
The summit, which took place on the sidelines of the recently concluded World Bank/International Monetary Fund (IMF) Spring meetings, aimed to foster connections, explore solutions and enhance access to finance for businesses worldwide.
Mr. Lewis signed for EXIM while the Managing Director/Chief Executive Officer of the Bank of Industry (BoI), Olasupo Olusi, signed for Nigeria.
According to the parties, the MoU is to encourage collaboration and identify projects that enhance economic prosperity between Nigeria and the United States, according to a joint statement.
Mr. Lewis was quoted as saying that “The MoU will focus on mutual collaboration to discover new projects in Nigeria that involve the procurement of U.S. goods and services in several sectors, including climate and sustainability, creative arts and entertainment, infrastructure, technology, and opportunities for small businesses and women-owned businesses.
“This MoU is a symbol of EXIM’s commitment to deepening relationships with partners in Nigeria to strengthen the U.S.- Nigeria commercial relationship and bolster the economies of and support jobs in both of our nations.
“Supporting U.S. exports to sub-Saharan Africa is one of our agency’s central mandates, and we are excited to see the new opportunities that may result from this MoU.”
Also commenting, Dr. Olusi said: “Today’s signing ceremony marks the inception of a strong strategic partnership that would see EXIM Bank and BOI further the objective of facilitating the procurement of U.S. goods and services for projects in Nigeria by providing medium to long-term guarantees and/or direct loans to finance U.S. exports across various sectors.
“We look forward to exploring more collaborative opportunities to catalyze sustainable industrial and entrepreneurial growth in Nigeria.”
The MoU will focus on mutual collaboration to discover new projects in Nigeria that involve the procurement of U.S. goods and services in several sectors, including climate and sustainability, creative arts and entertainment, infrastructure, technology, and opportunities for small businesses and women-owned businesses.
Supporting small businesses
A second MoU was also signed by Mr. Lewis with Mastercard, alongside Shamina Singh, Founder & President, Center for Inclusive Growth and EVP, Sustainability at Mastercard, to encourage collaboration opportunities in support of small businesses.
The MoU will focus on identifying opportunities for EXIM and Mastercard to collaborate in several areas, including financial support and education programs for small business owners; promotion of EXIM programs; collaborative initiatives and joint engagements; customized solutions for small businesses; and networking and partnerships facilitated by both parties.
“EXIM is committed to forging new partnerships to meet our mandate and support U.S. small business exporters,” said Mr. Lewis.
“We are proud to sign this MOU with Mastercard and are eager to see what new collaboration opportunities to help U.S. small businesses grow and expand through exporting may result from this historic partnership.”
On his part, Mr. Singh said: “At Mastercard, we want to elevate small businesses, as they are the engine of our nation’s economy.
“This partnership with EXIM will allow us to support education and solutions, and further unlock financing solutions in the U.S., leading to more job creation and greater prosperity for small businesses and their communities.”
