“Nigeria launches National Development Bank” – Development Finance – January 26, 2017

On January 26, 2017 Development Finance reported that Nigeria has established a national development bank.  According to the article, five development banks have invested in the new institution.

“The Development Bank of Nigeria (DBN) has been co-initiated by the World Bank, which provided US$500 million via its International Bank for Reconstruction and Development (IBRD). Other investors include Germany’s KfW, which put up US$200 million, along with US$50 million in equity capital from the African Development Bank, and US$450 million in debt capital from Agence Française de Développement. The new bank is finalising its fifth investment agreement with the European Investment Bank (EIB).”

You may read the article on the Development Finance internet site.