Release date: 15 December 2009
Promoter – Financial Intermediary
First Bank of Nigeria, Guaranty Trust Bank, Stanbic IBTC
Location
Description
The project is the combination of three separate investments with First Bank of Nigeria, Guaranty Trust Bank and Stanbic IBTC.
Objectives
The proposed operation consists of two components: (i) an intermediated Framework Loan to support projects of small and medium size in the areas of infrastructure, including PPPs, and private sector investment throughout Nigeria; and (ii) for First Bank of Nigeria and Stanbic IBTC only, the provision of capital support in the form of a subordinated convertible loan.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 240 million
Total cost (Approximate amount)
Not applicable
Environmental aspects
The Bank will ensure that the impact of the sub-projects financed by this facility are in line with its principles and standards as regards environmental and social issues.
Procurement
The three intermediaries will ensure that equipment, works and services to be financed under this operation will be procured at the most advantageous prices, having regard to quality and efficiency, and that an open international bidding procedure will be followed where appropriate, in accordance with the Bank’s Procurement Guidelines.
Status
Signed - 10/02/2010
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).