Bassey Otu governor of Cross River state, says a $3.5 billion loan has been secured from the African Export-Import Bank (Afreximbank).
In a post on Tuesday, the governor said the funding, which is expected to foster infrastructure projects, is for the Bakassi deep seaport in Cross River.
“Exciting news! Secured $3.5bn Afreximbank funding for Bakassi Deep Seaport in Cross River State, boosting key infrastructure projects,” Otu said.
“Our collaboration with Afreximbank in Cairo is a game-changer for economic growth and development in the state. #InfrastructureDevelopment.”
The Bakassi seaport project, which was approved by the federal government in 2019, is expected to be situated on a perimeter area of about 36,000 hectares under a public-private partnership (PPP) arrangement.
