Nigeria - Third Industrial Development Bank Project
Ministerio del Trabajo, Empleo y Seguridad Social
The project would provide term financing for about twenty-five industrial enterprises to meet one-third of total investment costs. Only direct foreign exchange costs would be financed by IBRD funds. Based on NIDB's present pipeline of projects, subloans financed under the project are expected to be in the areas of light manufacturing, construction materials, agro-allied industries, food and beverages and hotels. Most are import substitution by nature, aimed at the local market; a substantial number would be based on local raw materials. Average subproject cost is expected to be N5.0 million and average subloan and equity investment by NIDB about N2.1 million.
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