• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

AfDB approves a $175 million facility for UBA to support private sector and infrastructure development

2 years ago
in Banking & Finance, Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
105
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

AfDB approves a $175 million facility for UBA to support private sector and infrastructure development

The Board of Directors of the African Development Bank Group today approved a $175 million financial package for United Bank for Africa (UBA), comprising $100 million in long-term senior debt, $50 million of trade finance medium-term senior debt and a $25 million risk participation program.

The long-term senior debt will enhance UBA’s capacity to finance projects in Nigeria in the key sectors of infrastructure, agriculture and related value chains, as well as manufacturing, energy, and SMEs. The facility will be complemented with technical assistance from the Affirmative Action for Women in Africa (AFAWA) initiative to boost access to finance and technical assistance to women SMEs. The trade finance senior debt will provide UBA with much needed countercyclical dollar liquidity to support SMEs and local corporates involved in export-import related activities in the short to medium term.

The unfunded Risk Participation Agreement aims to strengthen UBA UK’s role as regional confirming bank and by extension expand access to international markets for largely excluded African issuing banks. The African Development Bank and UBA UK, a subsidiary of UBA PLC, will share 50/50 the default risk on a portfolio of eligible trade transactions originated by African issuing banks and indemnified by UBA UK.

Speaking after the Board approval, Bank Group Director General for Nigeria Lamin Barrow said, “We are pleased to support UBA with this package, which aligns with four (4) of the African Development Bank’s High 5 priorities namely Light up and Power Africa, Feed Africa, Integrate Africa, and Industrialise Africa.”

Ahmed Attout, African Development Bank Acting Director for Financial Sector Development, said:

“This intervention will address unmet demand for trade finance in Nigeria and Africa respectively by providing medium term finance to support exports² and the importation of intermediate goods required to sustain vital economic sectors. It will also unlock stable and affordable funding for SMEs who are the engine of Nigeria’s economic growth and employment generation.”

RelatedPosts

Parliament to Hold Special Hearings on Extractive Industries’ Impact on Jobs and National Development

Ghana’s Economy Ranked Among 14 African Economies at High Risk of Short-Term and Commercial Vulnerability

Dangote Plans Refinery Upgrade to Dethrone India and Lead the Global Refining Market

 

Tags: AfDBAfDB approves a $175 million facility for UBA to support private sector and infrastructure developmentPrivate sectorUBA
No Result
View All Result

Highlights

FirstBank Ghana Concludes Third Junior Internship Programme to Nurture Future Leaders

Regulatory Weakness, Capped Stabilisation Fund Undermining Ghana’s Petroleum Revenue Management – PIAC

MLS Playoffs 2025: A Look Ahead to the Exciting Postseason

Michael Jordan Rookie Card Sets New Record with $2.7 Million Sale

BoG Pegs Ghana Gold Coin at GHS 47,551 per Ounce

UEFA Champions League: Paris, Inter and Arsenal Win in Style to Stay Perfect, Barcelona Score Six

Trending

Business

Parliament to Hold Special Hearings on Extractive Industries’ Impact on Jobs and National Development

October 22, 2025

Parliament to Hold Special Hearings on Extractive Industries’ Impact on Jobs and National Development Parliament is set...

Ghana’s Economy Ranked Among 14 African Economies at High Risk of Short-Term and Commercial Vulnerability

October 22, 2025

Dangote Plans Refinery Upgrade to Dethrone India and Lead the Global Refining Market

October 22, 2025

FirstBank Ghana Concludes Third Junior Internship Programme to Nurture Future Leaders

October 22, 2025

Regulatory Weakness, Capped Stabilisation Fund Undermining Ghana’s Petroleum Revenue Management – PIAC

October 22, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.