AfDB OKs $184M Program To Boost Nigerian Power Sector

Law360, New York (December 18, 2013, 3:47 PM EST) -- The African Development Bank Group has approved a $184.2 million program and a $3.1 million African Development Fund loan to stimulate private investment in Nigeria’s power sector, the AfDB announced Wednesday.

The AfDB approved the $184.2 million African Development Fund Partial Risk Guarantee program as part of an initiative to increase Nigeria’s electricity generation by bolstering private sector investment and commercial financing in the power sector to support long-term growth in the country.

Such programs will mitigate the risk of the government-backed Nigeria Bulk Electricity Trading...
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