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Article: Nigeria: ADB Lends Two Banks, Others $271 Million.
- Article from:
- TendersInfo
- Article date:
- July 25, 2009
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Byline: Mamta03
Two Nigerian banks - United Bank for Africa (UBA), and Zenith - have been granted loans worth $200 million by the African Development Bank (ADB), which also lent Gabon $71 million to finance education and vocational training.
UBA received $150 million, and Zenith $50 million, under the Trade Finance Initiative (TFI).
The total facility, approved by the ADB board on July 22, is the largest commitment to two banks put together in Africa by the ADB.
It is seen as a further recognition of the ability of Nigerian banks to support private and public enterprises continentwide.
UBA is expected to utilise its loan to ...