Summary sheet
First Bank of Nigeria, Guaranty Trust Bank, Stanbic IBTC
The project is the combination of three separate investments with First Bank of Nigeria, Guaranty Trust Bank and Stanbic IBTC.
The proposed operation consists of two components: (i) an intermediated Framework Loan to support projects of small and medium size in the areas of infrastructure, including PPPs, and private sector investment throughout Nigeria; and (ii) for First Bank of Nigeria and Stanbic IBTC only, the provision of capital support in the form of a subordinated convertible loan.
The Bank will ensure that the impact of the sub-projects financed by this facility are in line with its principles and standards as regards environmental and social issues.
The three intermediaries will ensure that equipment, works and services to be financed under this operation will be procured at the most advantageous prices, having regard to quality and efficiency, and that an open international bidding procedure will be followed where appropriate, in accordance with the Bank’s Procurement Guidelines.