Overview

CDB provides $100 million loan to First Bank of Nigeria Limited for on-lending to SMEs

Commitments (Constant USD, 2023)$103,397,129

Commitment Year•2013Country of Activity•NigeriaDirect Recipient Country of Incorporation•NigeriaSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 10, 2013

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

China Development Bank (CDB)

Receiving agencies

Private Sector

First Bank of Nigeria Limited

Implementing agencies

Private Sector

First Bank of Nigeria Limited

Loan desecription

CDB provides $100 million loan to First Bank of Nigeria Limited for on-lending to SMEs

Interest type•Unknown

Narrative

Full Description

Project narrative

On July 10, 2013, China Development Bank and First Bank of Nigeria Limited signed a $100 million credit facility agreement. The purpose of this loan is to enable First Bank of Nigeria Limited to on-lend to small- and medium-sized enterprises (SMEs) in Nigeria.