European Bank For Reconstruction Targets $1.5bn Investment In Nigeria In 3 Years

The European Bank for Reconstruction and Development (EBRD) has unveiled plans to invest at least $1.5 billion in Nigeria over the next three years as it deepens its presence in the country following Nigeria’s admission as a shareholder of the multilateral lender.
The bank, which opened its first Sub Saharan Africa office in Lagos on Friday, disclosed that it has already committed $280 million to projects in Nigeria within less than one year of commencing operations, with investments expected to gather momentum as more bankable projects emerge.
Speaking during a media chat after the official opening of the Lagos office yesterday, EBRD managing director for Sub Saharan Africa, Heike Ha...