The United States Chamber of Commerce has announced that it is willing to invest the sum of $320 million in mortgages and small and medium enterprises in Nigeria, News About Nigeria reports.
Vice President Kashim Shettima disclosed this in a statement issued by his spokesperson, Mr. Stanley Nkwocha.
Kashim noted that this commitment was made by the Deputy Chief Executive Officer of the U.S. International Development Finance Corporation, Ms. Nisha Biswal, during a US-Nigeria Executive Business Roundtable hosted by the US Chamber of Commerce, as part of the ongoing 79th Session of the United Nations.
The chamber, which is said to have a portfolio of one billion dollars, has decided to invest in the refinancing of mortgages in Nigeria with $200 million.
Biswal also maintained that the American Chamber remains committed to working with Nigerians in developing and pursuing sustainable economic policies.
She stated, “With a portfolio of one billion dollars, the chamber would invest $200 million in mortgage in Nigeria.
“Additionally, the sum of $100 million has been earmarked for FCMB to finance SMEs in Nigeria, with particular interest in women’s empowerment.
“The US Chamber of Commerce also announced that $20 million has been approved for a firm, Robust International, for cashew nut processing in Nigeria.”
Also speaking, Shettima noted that President Bola Ahmed Tinubu is committed to fostering investor-friendly policies, citing the removal of fuel subsidies as one of the policies.
He further urged Biswal to give President Tinubu the benefit of doubt.
Vice President Shettima is leading the Nigerian delegation at the ongoing United Nations General Assembly.
