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Article: Nigeria: UBA, Zenith Get $200m AfDB Facility.
- Article from:
- TendersInfo
- Article date:
- July 24, 2009
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Byline: babalu03
The African Development Bank (AfDB) has granted two Nigerian banks United Bank for Africa (UBA) Plc and Zenith Bank Plc a $200 million facility under its Trade Finance Initiative. While UBA got $150 million, which represents the largest commitment to a single bank in Africa by the regional development finance organisation, Zenith Bank secured $50 million.
The facilities, which were approved by the AfDB Board of Directors last Wednesday, according to AfDB, was in recognition of the duo s ability to support private and public enterprises across the African continent .
In addition to the provision of short-term credit for import ...