Afreximbank, First Bank sign $200m agreement to finance clients’ needs

Afreximbank and First Bank of Nigeria (FBN) have signed a $200 million facility agreement for financing the needs of the bank’s clients.

The agreement was signed at the ongoing 31st Afreximbank Annual Meetings (AAM2024) in Nassau, Bahamas, on Friday, June 14, 2024.

The facility is expected to finance the needs of First Bank’s clients engaged in oil and gas and energy, manufacturing, telecommunications, and associated infrastructure projects.

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The parties who signed the agreement included the Acting CEO of First Bank, Olusegun Alebiosu; the Executive Vice President of Intra-African Trade Bank (IATB), Afreximbank, Awani Kanayo; and the CEO of Gateway Partners, Viswanathan Shankar, on behalf of African Credit Opportunity Fund.

The 31 AAM2024 is held in Nassau, Bahamas, from June 12 to June 15 with the theme, “Owning our Destiny: Economic Prosperity on the Platform of Global Africa”.

The AAM is holding alongside the third edition of the AfriCaribbean Trade and Investment Forum (ACTIF2024).

The Star