Afreximbank, First Bank of Nigeria Mobilize $200M for Energy Clients

Multilateral financial institution the African Export-Import Bank (Afreximbank) and financial services company First Bank of Nigeria have signed a $200 million loan facility agreement.

The facility aims to support the needs of clients across various industries, including oil and gas, energy, manufacturing, telecommunications and more.

The agreement – signed on June 14 – improves access to financing for Rand Bank of Nigeria’s clients in the country. Aimed at supporting project development and commerce, the facility better-equips the Nigerian institution to provide capital and other financial services.