Dr. Ajedra Gabriel Aridru, Minister of State for Finance, Planning and Economic Development of Uganda, today in Bali, Indonesia, commended the African Export-Import Bank (Afreximbank) for accepting to finance a specialist hospital being built in his country.
Speaking during a meeting with an Afreximbank delegation led by Bank President Prof. Benedict Oramah, on the sidelines of the 2018 International Monetary Fund and World Bank Group Annual Meetings, Dr. Aridru also thanked Afreximbank for considering Uganda for the estalishment of its regional office for East Africa.
He said that Uganda hoped to become the regional financial centre serving the East Africa region, noting that the establishment of the regional office will help it advance that objective.
President Oramah said that the Bank was putting a lot of effort into supporting health and medical tourism in Africa in order to reduce the foreign currency cost of Africans traveling outside the continent for medical care and to also save lives.
The Bank was already working on developing a medical centre of excellence in Nigeria under that programme, he said. It had implemented a similar approach in the hospitality sector, where it had provided financing of about $1 billion for hotel development in Africa.
The President commended the Bank of Uganda for participating in Afreximbank’s Central Bank Deposit Programme which mobilizes African savings held in form of reserves outside the continent for use in the economic development of the continent. About 20 institutions had already joined the programme which raised more than $5 billion in its first year.
Prof. Oramah then briefed the minister on the Intra-African Trade Fair being organised by the Bank in December and thanked Uganda for hosting one of the fair’s engagement sessions. He urged the minister to help ensure Uganda’s participation
Prof. Oramah also invited the Minister and the Ugandan delegation to attend the Babacar Ndiaye Lecture being hosted by Afreximbank in Bali on 13 October.
Joining the Minister at the meeting were several Ugandan officials, including Keith Muhakanizi, Permanent Secretary and Secretary of the Treasury; Moses Kaggwa, Director, Economic Affairs; and Dr. Albert Musisi, Commissioner, Macro, Bank of Uganda.
The meeting was part of a series of meetings with political, economic and business leaders lined up for the Afreximbank delegation during the 2018 International Monetary Fund and World Bank Group Annual Meetings which is taking place in Bali from 8 to 14 October.
Afreximbank President Prof. Benedict Oramah (5th right) and Dr. Ajedra Gabriel Aridru, Minister of State for Finance, Planning and Economic Development of Uganda (6th right), in group photo with some of the meeting participants, including Afreximbank Executive Vice Presidents Dr. George Elombi (7th right) and Amr Kamel(2nd right).