Nigeria - Naira line of credit to FirstRand Bank subsidiary, Rand Merchant Bank Nigeria Limited


Project Summary

Approval Date 12 Dec 2012
Signature Date 11 Jul 2014
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 25,558,386.6
Status Implementation

Project General Description

The present intervention concerns the Naira line of credit to FirstRand Bank subsidiary, Rand Merchant Bank Nigeria Limited. It aims to provide a medium-term, multi-currency line of credit of up to the equivalent of USD 300 million to FirstRand Bank Limited, which is a wholly-owned subsidiary of the South Africa based FirstRand Limited. The proceeds of the Facility will be used for funding projects in a number of sectors and across a number of African countries.

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-NG-HAB-022
Last Update 24 Oct 2020

Export

Contact Details

Email private-sector@afdb.org

Geographic Location

Country Nigeria