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    Signature(s)

    Amount
    € 120,000,000
    Countries
    Sector(s)
    Nigeria : € 120,000,000
    Credit lines : € 120,000,000
    Signature date(s)
    29/09/2016 : € 60,000,000
    30/07/2019 : € 60,000,000

    Summary sheet

    Release date
    23 November 2015
    Status
    Reference
    Signed | 29/09/2016
    20140764
    Project name
    Promoter - financial intermediary
    NIGERIA PRIVATE ENTERPRISE FINANCE FACILITY
    SKYE BANK PLC, UNITED BANK FOR AFRICA PLC, ACCEPTABLE BANK(S)
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 120 million
    not applicable
    Location
    Sector(s)
    Description
    Objectives

    Line of credit (investment facility) for: 1) Onlending to private companies/small and medium-sized enterprises (SMEs) in Nigeria, operating in traditional eligible sectors. 2) Funding the capital expenditures of the intermediary banks to develop their capacities of intermediation (e.g. branch network, IT systems, buildings, training).

    1) Financing of investment projects carried out by private companies. 2) Developing the capacity of the intermediary banks to facilitate this activity.

    Environmental aspects
    Procurement

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Comments

    UBA EUR 60m; SKYE EUR 40m; other acceptable banks to be added following appraisal.

    Link to source

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    News & Stories

    General enquiries and comments

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    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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