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

$100M USD

Funder	China Development Bank (CDB)
Recipient Organization	First Bank of Nigeria Limited
Country	Nigeria
Start Date	Jul 10, 2013
End Date	May 12, 2028
Duration	5,420 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`31025`

Grant Description

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

📚 Sources & References

China,Nigeria : FBN inks $100M facility deal with CDB
FBN
Chinese Bank Seal U.S.$100 Million SME Facility Deal
China,Nigeria : FIRST BANK OF NIGERIA inks $100 MILLION SME facility agreement with CHINA BANK
FirstBank Signs $100m SME Facility Agreement with China Bank
First Bank
Chinese bank sign $100m SME agreement
First Bank signs $100m SME facility agreement with China Bank
First Bank of Nigeria Ltd 2013 Annual Report
First Bank of Nigeria Ltd 2014 Annual Report
Nigeria: First Bank Signs $100m Finance Deal With Chinese Bank Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.