Project ID: 31025

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

Commitment amount

$ 97166187.02

Constant 2017 USD

Summary

Funding agency [Type]

China Development Bank (CDB) [State-owned Policy Bank]

Recipient

Nigeria

Sector

Business and other services (Code: 250)

Flow type

Loan

Concessional

Vague

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2013

Description

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.

Number of official sources

2

Number of unofficial sources

7

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Details

Cofinanced

No

Receiving agencies [Type]

First Bank of Nigeria Limited [Private Sector]

Implementing agencies [Type]

First Bank of Nigeria Limited [Private Sector]

Loan type

No Information

Gurarantee provided

No

Insurance provided

No