On Saturday, May 14, 2016, Zenith Bank Plc signed a very significant
power sector credit facility agreement with the French Development
Agency (AgenceFrancaise de Development (AFD) that could have very
positive implications for Nigeria’s electricity challenges.
The on-lending term loan being made available to Zenith Bank is to
support new investments in the CAPEX (capital expenditure) of
Distribution Companies (DISCOs) in the power sector in Nigeriaat single
digit interest rates.
Chairman of Zenith Bank Mr. Jim OviaandMrs. Laurence Breton-Moyet, Chief
Operating Officer and Member of the Executive Board from the AFD
Headquarters, Paris signed the agreement with Presidents MuhammaduBuhari
and Francois Hollande in attendance.
With the potential to give over $100 million in loans to the DISCOs,
this could very well be a turning point in Nigeria's struggle for
uninterrupted power supply.
Read more
here
Post a Comment