Release date: 23 November 2015
Promoter – Financial Intermediary
SKYE BANK PLC, UNITED BANK FOR AFRICA PLC, ACCEPTABLE BANK(S)Location
Description
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).
Objectives
1) Financing of investment projects carried out by private companies. 2) Developing the capacity of the intermediary banks to facilitate this activity.
Comments
UBA EUR 60m; SKYE EUR 40m; other acceptable banks to be added following appraisal.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 120 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 29/09/2016
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).