The Nigeria Framework Loan will focus in infrastructure projects that promote economic development, foster private sector development and create a competitive business environment. These could include among others, projects in the energy, power, transport and telecommunications sectors, and associated manufacturing industries.
Plutarchos Sakellaris, VP of EIB sub-Saharan Africa, said: “Nigeria has specific needs in infrastructure and the Nigeria Framework Loan will make a considerable contribution to improving infrastructure in the country. We look forward to working closely with three of the strongest banks in Nigeria to increase infrastructure finance in the country, following regulatory reforms and transformation of the banking sector. The three banks should be commended for their leadership in governance, transparency and risk management.”
Bisi Onasanya, group MD of FirstBank of Nigeria, said: “At FirstBank, our tradition of firm governance, financial strength, conservative management and depth of expertise equips us to help rebuild trust in our industry and create a more stable financial sector and we will take all necessary steps to ensure the effective administration of the Nigeria Framework Loan infrastructure facility are in place to enable its successful implementation.”
