The on-lending term loan being made available to Zenith Bank is to support new investments in the CAPEX (capital expenditure) of Distribution Companies (DISCOs) in the power sector in Nigeria at single digit interest rates.
Chairman of Zenith Bank Mr. Jim Ovia and Mrs. Laurence Breton-Moyet, Chief Operating Officer and Member of the Executive Board from the AFD Headquarters, Paris signed the agreement with Presidents Muhammadu Buhari and Francois Hollande in attendance.
With the potential to give over $100 million in loans to the DISCOs, this could very well be a turning point in Nigeria's struggle for uninterrupted power supply.
With the potential to give over $100 million in loans to the DISCOs, this could very well be a turning point in Nigeria's struggle for uninterrupted power supply.
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