The United Bank for Africa says it has secured a $175m facility from the Africa Development Bank Group to boost its support to the private sector, financing of infrastructure development and women-owned businesses.
In a statement issued by the lender on Monday, the facility consisted of $100m in long-term senior debt, $50m of trade finance medium-term senior debt and a $25m risk participation program.
It stated, “The long-term senior debt will enhance UBA’s capacity to finance projects in Nigeria in the key sectors of infrastructure, agriculture and related value chains, as well as manufacturing, energy, and SMEs. The facility will be complemented with technical assistance from the Affirmative Action for Women in Africa initiative to boost access to finance and technical assistance to women SMEs.
Source: Punch Business News
Read more: https://punchng.com/uba-secures-175m-afdb-loan/
