Line of Credit to Access Bank Plc - Nigeria

African Development Bank (ADB) approved on Wednesday, 13 December 2006, in Tunis a Line of Credit (LOC) of US$ 35 million to Access Bank PLC of Nigeria. This Line of Crédit aims to contribute to economic growth through increased investment and provision of sound financial infrastructure for savings and increase access to long term finance for business enabling infrastructure such as telecommunications, ports and airport infrastructure. It will be used for the provision of project finance, specifically to finance the purchase or importation of capital and replacement equipment as well as machinery which will be used to increase the productive capacities and the export potential of the sub-borrowers.