China Eximbank pledges to finance agricultural mechanization efforts in Nigeria

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Nigeria
Country	Nigeria
Start Date	Sep 01, 2004
End Date	Mar 11, 2026
Duration	7,861 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`1708`

Grant Description

China Eximbank pledges to finance agricultural mechanization efforts in Nigeria In September 2004, the Zhejiang Sifang Group Corporation signed an MOU with the Government of Nigeria to mobilize funds from China Eximbank for comprehensive mechanization of the farming methods used by peasant farmers. Nigeria’s Minister of Agriculture, Bamidele Dada signed the MOU on behalf of his ministry.

Mrs. Modupe Adelaja signed on behalf of the Small and Medium Enterprises Development Agency of Nigeria. Mr. Lin Guangping signed on behalf of the Zhejiang Sifang Group Corporation. The status of the project is unknown.

📚 Sources & References

Obasanjo Says Nigeria's an Investment Haven
Comprehensive Mechanisation of Nigerian Farming Practice with Financing by China Exim Bank
FG, states want 1% interest rate on China's $4.5bn mechanisation loan, http://global.factiva.com/aa/?ref=AFNWS00020040908e09800339&pp=1&fcpil=en&napc=S&sa_from= Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.