Daily Trust (Abuja)

1 February 2013

Nigeria: AfDB to Provide U.S.$700 Million to BoI, NEXIM

The African Development Bank has an agreement to provide $700 million to the Bank of Industry (BOI) and Nigerian Export-Import Bank (NEXIM) to support export-oriented small and medium enterprises' (SMEs) modernization and expansion in the country.

The BOI will get $500 million, while NEXIM will benefit $200 million from the two sovereign-guaranteed multi-tranche lines of credit from the AfDB.

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