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    Reference: 20140764
    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)

    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 data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Nigeria Credit lines