EBRD launches first investment in SSA's financial sector and its first in Nigeria
Nigeria, Jan. 29 -- The European Bank for Reconstruction and Development (EBRD) has launched its first investment in Nigeria's and the first in the sub-Saharan financial sector, providing a US$ 100 million (€85.0 million) trade finance facility to Access Bank, the country's leading commercial bank.This trade finance limit under the EBRD's Trade Facilitation Programme (TFP) aims to support Access Bank's trade finance operations and help it to diversify its correspondent banking relationships and strengthen trade finance links with other EBRD countries of operation. Under the TFP, the limit and the enhanced trade finance capacity will be used to issue guarantees in favour of foreign commercial banks and provide cash advances to fund tra...
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