Articles

US Approves $250m Loan for Fertilizer Facility in Nigeria

13 Dec 2012

Views: 2,490

Font Size: a / A

2405N.President-Obama.jpg - 2405N.President-Obama.jpg

President Obama

By Tokunbo Adedoja

The Board of Directors of Overseas Private Investment Corporation (OPIC) has approved a $250 million loan to fund a nitrogen fertilizer facility in Nigeria.

OPIC is a United States Government’s development finance institution that mobilizes private capital to help solve critical development challenges and its achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.

Disclosing this in Washington DC, State Department's Spokesperson, Victoria Nuland, said: "I want to, before we start, just commend the OPIC Board of Directors for approving two major projects in Africa totaling some $400 million. These are actually both pretty cool. This first one is called Greenpark and it includes a $250 million loan to fund a nitrogen fertilizer facility in Nigeria."

More to follow....


Tags: News, Nigeria, Featured, Us, $250m Loan, Fertilizer Facility

Comments: 0

Rating: 

 (0)
Add your comment

Please leave your comment below. Your name will appear next to your comment. We'll also keep you updated by email whenever someone else comments on this page. Your comment will appear on this page once it has been approved by a moderator.

comments powered by Disqus