AfDB’s signs $100m soft commodity finance facility agreement with Export Trading Group

The African Development Bank has signed a loan agreement for a soft commodity finance facility (SCFF) with the Export Trading Group (ETC). This Facility is innovatively structured as two successive loans of US $100 million, each with a tenor of up to 2 years, thus signifying the African Development Bank’s strong commitment to the promotion of agriculture in Africa.

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Uganda secures $4b oil refinery deal

With the support of the African Legal Support Facility (ALSF), the Government of Uganda has successfully signed an agreement with a consortium of American and Italian firms to finance and construct a US $4-billion refinery in the country’s Hoima district. The project will be a joint venture with the Ministry of Energy and Mineral Development and the Uganda National Oil Company (UNOC), a limited liability oil company owned by the Government of Uganda.

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How CBN plans to boost non-oil exports with N500b, as foreign reserves hit $50b

WorldStage Newsonline– As part of effort to align with the Federal Government’s effort to diversify the economy away from oil, the Central Bank of Nigeria (CBN) said it was in the final stage of discussion with the Nigeria Export Import Bank (NEXIM) to set up a N500 billion fund to assist local manufacturers interested in the non-oil export.

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Emefiele unfolds plans to disburse N400b Real Sector Support Facility, N60b banks’ credit to vulnerable Nigerians

WorldStage Newsonline– The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele has announced plans to disburse up to N400 billion at only 9.0 percent interest rate under the Real Sector Support Facility (RSSF), in addition to the sum of  N393.5 billion released to 478 large scale agricultural projects since inception in 2010, even as the Bank was poised

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