UUBO Banking & Finance team acted as Nigerian Counsel to two Development Finance Institutions

The UUBO Banking & Finance team is pleased to have acted as Nigerian Counsel to two Development Finance Institutions – Société de Promotion et de Participation pour la Coopération Economique S.A (Proparco) and Deutsche Investitions- Und Entwicklungsgesellschaft MBH (DEG) – in connection with the provision of a credit facility of up to US$75,000,000 (seventy-five million United States Dollars) to First Bank of Nigeria Limited (“FBN”).

The facility is to be provided to FBN for on-lending to SMEs and corporates to finance, among other things, new, expansion, or modernisation projects and capital expenditure investments with a core focus on the implementation of climate projects and climate-beneficial technologies and equipment.

The UUBO team was led by our Banking & Finance Partners, Yinka Edu and Onyinye Okafor, and included Modupe Balogun, a Senior Associate in the Banking and Finance team, and Itoro Uwemedimo Etim, an Associate in the Banking & Finance team.

For more on UUBO’s banking & finance practice and other practice areas, please contact us at uubo@uubo.org and visit www.uubo.org .

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