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FROM THE OFFICE OF PUBLIC AFFAIRS October 5, 2004 US-Africa Mortgage Market Initiative Roundtable on Developing the Nigerian Mortgage Market U.S. Treasury Under Secretary John B. Taylor Opening Remarks, October 1, 2004 Thank you Mr. Rosenfeld for the warm welcome. Over the past year Ginnie Mae has provided critical support to the African Mortgage Market Initiative. I hope we can continue to work together to develop mortgage markets in I would like now to welcome to Minister Ngozi Okonjo-Iweala and her delegation which includes Mr. Tanimu Yakubu, Managing Director of the Federal Mortgage Bank. Minister Okonjo-Iweala is Minister of Finance for the Federal Republic of Nigeria. Before becoming Minister in July 2003 she was a Vice President and Corporate Secretary of the World Bank. I would also like to welcome the participants seated here today. We have representatives from a number of private sector companies, including banks, law firms, consulting firms, mortgage banks and investment banks. I am also happy to have representatives from the IFC, the World Bank and from a number of US government agencies including the White House, State Department, USAID, OPIC and of course Ginnie Mae.
This roundtable is being held under the auspices of the President Bush's African Mortgage Market Initiative, which he announced in The We are here today to talk about how best to develop the Nigerian mortgage market. Today's discussion will focus on a number of aspects of the market including land title issues, mortgage funding, credit risk management, mortgage servicing and the role of government in the market. I encourage you to also discuss how the expatriate Nigerian population in the The market for expatriate mortgage services could be large as there are currently over 700,000 Nigerians of working age living in the Thank you. I believe that we will have a lively and productive discussion this morning. |
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