France and EIB participating in financing infrastructures in Nigeria

2 March 2010

The European Development Bank has agreed a loan of 324.5 million Dollars to three Nigerian banks in order to finance infrastructure projects in Nigeria.

These are the First Bank of Nigeria, the Guaranty Trust Bank, and Stanbic IBTC. They will be granting loans to companies to finance private infrastructure projects within the framework of public-private partnership arrangements. Nigeria is likewise going to be benefiting from French aid in financing its infrastructures.

Some weeks earlier France announced the granting of 1.6 billion Dollars to the countries of the West African Economic Community of States.

French ambassador Jean-Dumund declared that Nigeria was on the priority list of countries scheduled to benefit from the French assistance programme, due to its strategic position on the African continent, as the APA press agency reports.

Category: General