Project Description
The project consists of a line of credit of up to $30 million to Investment Banking & Trust Company Plc (IBTC or the Bank), one of the largest new generation banks in Nigeria. The project''s main objective is to address the scarcity of term finance in Nigeria, which has forced Nigerian commercial banks to rely on their capital, or take the maturity risk in order to finance longer-term projects. The proposed investment allows IFC to address part of these constraints by making available foreign exchange term resources through an efficient financial institution.