Project General Description
The present intervention concerns the Line of Credit (LOC) to Guarantee Trust Bank. It involves the provision of a line of credit of up USD 40 million to Guarantee Trust Bank of Nigeria for on lending to its corporate clients preferably SMEs. The line of credit should be mainly used to finance enterprise expansion and development projects, with strong foreign currency income streams. Its should also be extended to start-ups with strong export potentials and the ability to service a hard currency loan. The sub-loans should be used for asset based financing primarily in the infrastructure sector (energy, telecommunication, transportation, etc.) and in other sectors including manufacturing and food industry.
The direct beneficiary of the LOC is Guarantee Trust Bank. In addition, it should also benefit the corporate clients of the Bank, especially SMEs.