Zenith Bank Boost Electricity With $100 Million Credit Facility

Zenith Bank Plc, a foremost financial institution in Nigeria and French Development Agency (Agence Francaise de Development (AFD), operator of France’s bilateral development finance mechanism, have signed a US$100 Million power sector credit facility. 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 Nigeria.

The facility signing held on the occasion of the visit to Nigeria of the French President, on Saturday, May 14, 2016, and was witnessed by Presidents Muhammadu Buhari and Francois Hollande at the Aso Rock Villa, Abuja, during a bilateral session.

Chairman of Zenith Bank Plc, Mr. Jim Ovia led the Bank’s top executives while Mrs. Laurence Breton-Moyet, Chief Operating Officer and Member of the Executive Board from the AFD Headquarters, Paris, was the lead for the AFD team at the occasion.