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NIGERIA ECONOMIC DIVERSIFICATION FACILITY

Summary sheet

Release date
27 August 2018
Status
Reference
Under appraisal | 12/07/2018
20180472
Project name
Promoter - financial intermediary
NIGERIA ECONOMIC DIVERSIFICATION FACILITY
ACCEPTABLE BANK(S),UNION BANK OF NIGERIA PLC
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 110 million
Not applicable.
Location
Sector(s)
Description
Objectives

The project consists of a financing facility focused on small and medium-sized enterprises (SMEs) for Nigerian financial intermediaries to support eligible private sector entities or commercially-operated public sector entities undertaking productive investments in Nigeria.

This project will improve competitiveness and access to finance at favourable conditions for SMEs in Nigeria.

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

Union Bank Nigeria EUR 50m; other acceptable banks to be added following appraisal.

Link to source
Summary sheet
NIGERIA ECONOMIC DIVERSIFICATION FACILITY

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).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
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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Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

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 Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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