Accion Nigeria Loan 2 (IFC-39519)

Countries
  • Nigeria
Where the impacts of the investment may be experienced.
Specific Location
Lagos, Ogun, Oyo, Rivers and Anambra
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 30, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
ACCION MICROFINANCE BANK LTD
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 3.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 3.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 18, 2017

Disclosed by Bank May 17, 2017


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Project Description
This project aims at supporting the expansion of the lending activities of Accion Microfinance Bank Limited (AMfB) to micro and small enterprises in Nigeria. The proposed investment consists of a local currency loan for IFC’s own account of up to NGN1.0billion (~US$3.2million).
Investment Description
  • International Finance Corporation (IFC)
Contact Information
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