EBRD targets $1.5bn of investment in Nigeria over three years
The European Bank for Reconstruction and Development (EBRD) is targeting 1.5 billion dollars of investment in Nigeria over the next three years. According to Premium Times, the bank aims to make it easier for importers and exporters to access trade financing.
The European Bank for Reconstruction and Development (EBRD) has said it is targeting 1.5 billion dollars of investment in Nigeria over the next three years. According to Premium Times, the bank's managing director said the investments would make trading activities in the country easier.
The bank says the funds are intended to help importers obtain pre-import financing and exporters obtain post-export financing more easily. That is seen as significant support for businesses facing pressure on foreign exchange and liquidity.
Nigeria is one of Africa's largest economies, and trade financing is critical to its growth. The EBRD's commitment reflects growing interest from international development institutions in Nigeria. The timetable for disbursing the funds and the priority sectors are expected to become clearer over time.
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