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AFDB’s $500m facility ready for access soon – BOI

The Bank of Industry (BOI) is perfecting all documents pertaining to the release of the $500m Africa Development Bank (AfDB) Fund, and will soon make it available to industrialists, it has been announced. The announcement was made by the Chairman, Shareholders’ Committee of BOI Mohammed Kyari Dikwa in Abuja during the bank’s 53rd Annual General Meeting (AGM). According to him, the $500million credit line was facilitated by the Federal Government to boost the country’s industrial base, adding that “It is with the expectation to deepen the Bank’s credit delivery process that the Federal Government facilitated the approval of the $500 million Line of Credit from Africa Development Bank (AfDB) for BOI to utilize for the funding of the industrial sector at concessionary rate. “As soon as BOI complies with the disbursement processes which has reached an advanced stage, Nigerian industrialists will start benefiting from the incentive-backed facility.”

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