Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » IFC leads $175m financing to Nigeria’s GTBank to promote economic growth

    IFC leads $175m financing to Nigeria’s GTBank to promote economic growth

    March 21, 2015
    Share
    Facebook Twitter LinkedIn WhatsApp
    International Finance Corporation, IFC.
    International Finance Corporation, IFC.

    21 March 2015, Washington, DC — IFC a member of the World Bank Group, today announced a $175 million loan financing package to Guaranty Trust Bank Plc, to support its expansion program across all sectors of the Bank’s

    operations. GT Bank, one of Africa’s leading full service commercial banks, will use the funds to expand its lending to sectors that drive economic growth and job creation in Nigeria.

    The financing comprises $100 million for IFC’s own account and $75 million through the IFC Managed Co-Lending Portfolio Program, a new syndications platform that offers institutional investors the ability to passively participate in IFC’s future senior loan portfolio.

    “Guaranty Trust Bank plc is strengthening its position as a market leader, by deepening access to growth capital and boosting lending to critical sectors that are generators of growth” said, Segun Agbaje, Managing Director/Chief Executive Officer, GT Bank. “IFC, our long-standing partner, is demonstrating its support through direct investments and through syndications to enable us achieve our goals and grow the Nigerian economy.”

    Eme Essien Lore, IFC Country Manager for Nigeria said, “IFC’s strategy for Nigeria encourages financial intermediaries to support the growth of sectors that increase real output. By expanding IFC’s partnership, GT Bank can make medium and long-term funding available to key sectors of the Nigerian economy, and contribute to higher overall growth.”

    GT Bank is a leading full service commercial bank in Nigeria with a network of 233 branches (including Cash Centers), 18 e-branches, 23 GTExpress locations and 1,097 ATMs across Nigeria and offering a wide range of banking and financial services. The Bank has nine subsidiaries and presence in eight African countries and in the United Kingdom.

    Related News

    IMF approves $367 million disbursement to Ghana after fourth review

    Nigeria backs BRICS push for global financial reform

    PAPSS and Interstellar unveil African Currency Marketplace

    E-book
    Resilience Exhibition

    Latest News

    Nigeria’s Dangote refinery plans 1.6 mln barrels fuel storage tanks in Namibia, sources say

    July 9, 2025

    Nigeria’s oil rig count hits 46 – NUPRC

    July 9, 2025

    UAE says markets thirsty for oil despite boosts in OPEC+ output

    July 9, 2025

    Ghana warns of power cuts while Italy’s Eni works to boost gas supply

    July 9, 2025

    Battery electric cars produce 73% less emissions -research

    July 9, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.