The park will be built in Ohaji Egbema Local Government Area of Imo State.
A memorandum of understanding was also signed at the Ndubuisi Kanu Executive Chambers at the Government House in Owerri the capital of Imo State in southeast Nigeria.
The Imo State Governor, Rochas Okorocha, told reporters that the proposed Imo Industrial Park in Ohaji Egbema Local Government Area would generate over one million jobs for youths not only in the state but in the country.
He said that the project would turn Imo State into an investment haven which would boost the economy of the country and also increase her gross domestic product.
Meanwhile, the Vice President of the African Development Funding Group, Duncan Otieno, said they were willing to partner with Imo State to actualise the project with main focus on road infrastructure, agriculture, construction, and logistics in the industrial park.
One of the delegates from the African Development Funding Group is the Nigerian Consul General to south Africa Mrs Uche Ajulu-Okeke.