Monday , April 15 2024

Africa

Nigeria gets Afreximbank’s $1bn loan in May

Loan

Nigeria is set to receive a $1.05bn syndicated loan backed by oil from the African Export-Import Bank next month. The loan is part of a larger $3.3bn prepayment facility arranged by Afreximbank, with repayment terms tied to crude cargoes from the Nigerian National Petroleum Company Ltd. According to Bloomberg, Afreximbank’s …

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