Nigeria - United Bank For Africa PLC.


Project Summary

Approval Date 08 Jun 2016
Signature Date 30 Nov 2016
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 109,621,877.6
Status Implementation

Project General Description

This project involves a credit line (LC) of up to US $ 150 million for United Bank for Africa (UBA) to finance infrastructure projects targeting the electricity sector (generation and distribution) and other sectors such as agriculture, manufacturing and education, as well as SMEs and women's businesses in Nigeria. UBA is one of the oldest and most important financial institutions in Nigeria, with a domestic market share of 9% of total assets at the end of 2014. The proposed intervention will complement the Bank's ongoing efforts to support the agriculture, water and transport sectors.

Project Objectives

The project will provide UBA with access to long-term foreign currency financing needed to finance infrastructure development, at a time when US funding is becoming increasingly scarce on the market. In addition, the facility will help improve access to finance for SMEs, including women-owned businesses, thus complementing infrastructure projects by creating more business opportunities and a better business climate for SMEs.

Beneficiaries

The direct beneficiaries of the intervention are United Bank for Africa (UBA), the infrastructure sectors and other sectors such as agriculture, manufacturing and education, as well as SMEs and women's businesses in Nigeria.

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-NG-HA0-012
Last Update 31 Oct 2019

Export

Contact Details

Email private-sector@afdb.org

Geographic Location

Country Nigeria