IFC, Zenith Bank sign $100million facility | Bizness Watch

IFC, Zenith Bank sign $100million facility

A member of the World Bank Group, International Finance Corporation (IFC), signed an agreement to provide a $100 million loan facility to Zenith Bank Plc, yesterday, in a bid to increase its lending to a variety of important economic sectors, boosting economic growth and job creation in Nigeria.
The $100 million loan facility will be provided from the IFC’s own account and Zenith Bank Plc will use the facility to reduce the lending gap in critical sectors.

The facility will help reduce the infrastructure funding gap in the country, in particular the power sector.

The lack of infrastructure has been identified as a key impediment to private sector development in Nigeria.

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