The US Export-Import Bank signed two new Memoranda of Understanding yesterday, one with Nigeria and the other with Mastercard.
The Nigerian MoU is "to encourage collaboration and identify projects that enhance economic prosperity between Nigeria and the United States," according to EXIM. The Mastercard MoU is "to encourage collaboration opportunities in support of small businesses."
ExIm signed an MOU with Nigeria’s Bank of Industry to encourage collaboration and identify projects that enhance economic prosperity between Nigeria and the United States.
The MOU will focus on mutual collaboration to discover new projects in Nigeria that involve the procurement of US 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 US-Nigeria commercial relationship and bolster the economies of and support jobs in both of our nations,” Bank Chair Reta Jo Lewis said.
“Supporting US 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.”
The second agreement was signed with 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.
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