IFC to boost local currency financing in Nigeria
Central bank signs agreement intended to unlock more than $1 billion of funding in coming years
The Central Bank of Nigeria (CBN) has signed an agreement with the World Bank’s International Finance Corporation (IFC) aiming to increase local currency financing in the coming years.
In a joint statement released on October 28, the CBN and IFC said the naira financing would help private businesses in Nigeria to “grow and thrive”.
The IFC said it aims to significantly increase its financing of critical sectors in the country, with a goal to provide more than $1 billion in the coming years. The
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