Nigerian banks to benefit from AfDB’s US$50m trade risk guarantees

Nigerian banks to benefit from AfDB’s US$50m trade risk guarantees: The African Development Bank (AFDB) on Thursday said it has approved a US$50m Risk Participation Agreement for Commerzbank AG to address the continent’s trade finance market demand. The fund will enable banks operating in Nigeria and other African countries to provide credit to their customers, including Small and Medium Enterprises that are involved in trade within the region.

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