World Bank, IFC conclude assessment tour of industries in Anambra

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By Sunny A. David, Nnewi
The World Bank and International Finance Cooperation delegates who have concluded their two-day of spot assessment of industries in Anambra State said the report of their findings will be ready in June this year.
The delegates stated this during a tour of some selected industries at Nnewi.
The delegates, who were accompanied on the tour by the staff of Anambra Investment Promotion and Protection Agency, (ANSIPPA) among others, visited Innoson Motors and Chikason Group in Nnewi, Nnewi North Council Area as well as Lynden Farm at Igbariam, Anambra East Council Area.
Speaking at Innoson Motors, the World Bank Private Sector Specialist, Mrs. Anita Okemini said the World Bank will work with private manufacturers and the State Government to further improve enabling business environment in the state.
Mrs. Okemini, who stressed that the support to the private sector will improve their output and productivity, noted that from their assessment, a lot of good work and employment opportunities abound in the private sector which she described as the major drive of development, pointing out that the rest of the World Bank team will come back in June for what she called dissemination mission.
The Managing Director and Chief Executive Officer of ANSIPPA, Mr. Jide Ikeakor stressed that government involvement in the tour is in line with its primary role of providing enabling business environment, noting that the team has gone round in a bid to understand challenges facing Industries in the State.
Mr. Ikeakor said that State government has put a lot of measures in place to foster private sector development, noting that it is a continuous effort until the goal is achieved.
In his remarks, the Chairman of Innosson Group, Mr. Innocent Chukwuma observed that the two major challenges facing private sector is power and high interest rate of loan, pointing out that expansion is possible if loans with lower interest rates are given to manufacturers so that products will be subsidized.
The Group Managing Director of Chikason, Mr. Ari Sengupta while highlighting similar challenges facing Industries in the Country, expressed optimism that the visit will be fruitful.
At Lynden Farm Igbariam, the Commissioner for Agriculture, Mechanization Processing and Export, Mr. Afam Mbanefo, disclosed that production capacity has increased but noted that more could be achieved with international aid.
The team later visited Coscharis Farm Anaku, Ayamelum Local Government Area for further assessment.
The Country Director of International Finance Cooperation, Mr. Ibrahim Dikko Adamu, Commissioner for Trade, Market and Wealth Creation, Mr. Christian Madubuko, the Executive Director of ANSIPPA, Dr Ifediora Amobi, among others were part of the visit.
 

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