- Nearly nine in ten Africans in the UK say they have been turned down for a mortgage
- EAAIF Completes $325M Debt raise to Accelerate Emerging Market Infrastructure
- AFSIC connections unlocked key funding for the Africa College Foundation to provide education for youth in Africa
- US economic uncertainty to spark boom in UK real estate investing
- East Africa’s Real Estate Market Primed for Those Who Know It Best
Nigeria cabinet approves $1.3 billion loan for Development Bank of Nigeria
LAGOS (Capital Markets in Africa) – Nigeria’s cabinet has approved $1.3 billion of loans from international lenders to fund the newly licensed Development Bank of Nigeria, the finance minister said on Wednesday.
The money is made up of $500 million from the World Bank, $450 million from the African Development Bank, $200 million from German state bank KfW and $130 million from France’s state development agency, said Kemi Adeosun, Nigeria’s finance minister.
The loan facility is still subject to approval by the National Assembly, she said.