Africa: EIB, UBA Enter N10 Billion Deal for SMEs Funding Across Africa

9 November 2012

The European Investment Bank (eib), Europe's Long term lending institution, and United Bank for Africa (UBA) Plc, have entered agreement to strengthen Small and Medium Scale Enterprises (SMEs) in Africa through a Euro50 million (N10 billion) regional funding initiative European Investment Bank Vice President responsible for lending operations in sub-Saharan Africa, Pim Van Ballekom, said, "The European Investment Bank is committed to supporting the private sector in Africa .

This significant partnership between UBA and the European Investment Bank will benefit small businesses seeking to expand and contribute to strengthening of the financial sector in 16 African countries. The ability to access harmonized financial services across borders will also encourage greater regional economic integration on the continent."

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