Bank of Industry and IFC Sign US$50 Million Financing Agreement

On 5 November, the Bank of Industry and the International Finance Corporation signed a US$50 million senior loan agreement to expand long-term financing for Nigerian micro, small and medium-sized enterprises. The facility has a seven-year tenor and is intended to strengthen BOI’s capacity to finance productive businesses. The agreement creates opportunities for financial institutions, SME advisers and investment consultants supporting business expansion. HPC can support financial research, funding-opportunity assessments and investor-partner identification.