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European Investment Bank and UBA to support small businesses across Africa

The European Investment Bank (EIB), Europe’s long-term lending institution, and United Bank for Africa (UBA) Plc, a leading Pan-African financial institution with presence in 19 African countries, have agreed to strengthen small and medium businesses in Africa through a EUR 50 million regional funding initiative.

“The European Investment Bank is committed to supporting the private sector in Africa. This significant partnership between UBA and the European Investment Bank will benefit small businesses seeking to expand and contribute to strengthening of the financial sector in 16 African countries. The ability to access harmonized financial services across borders will also encourage greater regional economic integration on the continent.” said Pim van Ballekom, European Investment Bank Vice President, responsible for lending operations in sub-Saharan Africa.

”Our expansion across Africa in the last five years has been driven by our commitment to fostering economic integration on the continent and supporting the development of African businesses. The partnership with EIB provides us with an additional source of medium to long term funding and will enhance financial intermediation in key sectors such as agriculture, manufacturing, infrastructure, transport, energy, health, education and, other sectors where long term funding is required” said Phillips Oduoza, Group Managing Director and CEO, United Bank for Africa Plc.

The EIB loan will be used by UBA for on-lending to eligible customers in its countries of operation. The initiative will assist UBA to strengthen its African regional network and represents the first time that the EIB has provided such facility to a Nigerian Bank for on-lending to small and medium sized businesses across borders.

06.11.2012 (10:06)
Add comment | Comments (5)
19.02.2013 (15:29) / Mr. Monroe
I would like a small business loan . Can your institute help me get started ? contact info
04.04.2013 (01:42) / Tom Hawkins
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29.04.2013 (02:15) / Rid
I"ll like to know the requirements for accessing funds from the EIB-UBA initiative. I run a small ICT business and live in Nigeria. My contact email is Thank you.
29.04.2013 (02:20) / Rid
I"ll like to know the requirements for accessing funds from the EIB-UBA initiative. I run a small ICT business and live in Nigeria. My contact email is Thank you.
24.07.2013 (05:45) / simeon Za
Am a freelance financial consultant sourcing for off-shore funds for some of my clients in the oil and gas sector in Nigeria.

I would like to receive the guidelines and requirements for SMEs desiring to benefit from this fund.

You can reach me on the following email and phone number.

Simeon Za
ACIB,CFA L2 Candidate
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