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Showing posts with label AFDB. Show all posts
Showing posts with label AFDB. Show all posts

RECESSION: Jonathan's Helmsman, Ex-Minister Approves $1b AfDB Loan To Save Nigeria

RECESSION: Jonathan's Helmsman, Ex-Minister Approves $1b AfDB Loan To Save Nigeria

RECESSION: Jonathan's Helmsman, Ex-Minister Approves $1b AfDB Loan To Save Nigeria
The African Development Bank (AfDB), headed by Akinwunmi Adesina, former agriculture minister, on Monday, September 26, 2016, approved the sum of $1 billion as loan to the Nigerian government. 

The loan provided at 1.2 percent interest rate is meant to address the deficits in 2016 budget.

Dr Akinwunmi Adesina, revealed this after a meeting with Professor Yemi Osinbajo, the country’s vice president and other members of the Economic Management Team (EMT) in Abuja. “African Development Bank (AfDB), we have a very strong delegation team to meet Vice President and the economic management team. 


“The bank’s largest shareholder is Nigeria. It is very important for me to be here and to talk to the Nigerian government about the challenges and opportunities that are in Nigeria.

“I think the times are difficult and there is no doubt about that. But I want to commend the government for being bold in taking the right decisions. 

“I think that the fact that the price of crude oil has gone down, is a big challenge because you have 98 per cent external forex revenue coming from the sector. 

“So it has created calibrations, I’m not going to go into the details of all the problems but what is important is what we are going to do about it. “I’m not here to lecture the Nigerian government. I’m here to support very strongly. 

“We have said that we are going to support the Nigerian government with the budget support to be able to deal with some of fiscal imbalance that they have.


“We are looking to consider for an award of $1 billion to help to deal with that particular deficit,” the Nation quoted him as saying after the meeting. Earlier, the News Agency of Nigeria had quoted finance minister Kemi Adeosun as announcing that Nigeria wanted a loan from the AfDB. 



“We are talking with AfDB for a $1 billion budget deficits finance support,” Adeosun reportedly said. The country has been facing recession and there is belief that the loan would help to meet the current challenges before the government.
RECESSION: Jonathan's Helmsman, Ex-Minister Approves $1b AfDB Loan To Save Nigeria
The African Development Bank (AfDB), headed by Akinwunmi Adesina, former agriculture minister, on Monday, September 26, 2016, approved the sum of $1 billion as loan to the Nigerian government. 

The loan provided at 1.2 percent interest rate is meant to address the deficits in 2016 budget.

Dr Akinwunmi Adesina, revealed this after a meeting with Professor Yemi Osinbajo, the country’s vice president and other members of the Economic Management Team (EMT) in Abuja. “African Development Bank (AfDB), we have a very strong delegation team to meet Vice President and the economic management team. 


“The bank’s largest shareholder is Nigeria. It is very important for me to be here and to talk to the Nigerian government about the challenges and opportunities that are in Nigeria.

“I think the times are difficult and there is no doubt about that. But I want to commend the government for being bold in taking the right decisions. 

“I think that the fact that the price of crude oil has gone down, is a big challenge because you have 98 per cent external forex revenue coming from the sector. 

“So it has created calibrations, I’m not going to go into the details of all the problems but what is important is what we are going to do about it. “I’m not here to lecture the Nigerian government. I’m here to support very strongly. 

“We have said that we are going to support the Nigerian government with the budget support to be able to deal with some of fiscal imbalance that they have.


“We are looking to consider for an award of $1 billion to help to deal with that particular deficit,” the Nation quoted him as saying after the meeting. Earlier, the News Agency of Nigeria had quoted finance minister Kemi Adeosun as announcing that Nigeria wanted a loan from the AfDB. 



“We are talking with AfDB for a $1 billion budget deficits finance support,” Adeosun reportedly said. The country has been facing recession and there is belief that the loan would help to meet the current challenges before the government.

Buhari, Presidency Excite As Jonathan's Super Minister Sets To Save RECESSED Nigerian Economy With $9 million

Buhari, Presidency Excite As Jonathan's Super Minister Sets To Save RECESSED Nigerian Economy With $9 million

Buhari, Presidency Excite As Jonathan's Super Minister Sets To Save RECESSED Nigerian Economy With $9 million
At a time when President Muhammadu Buhari, is seeking to diversify the nation’s economy to Agriculture, a ‘Super Minister’, who served under the former President, Goodluck Jonathan administration, has indicated interest to assist in the process.

The President of the African Development Bank, AFDB, and former Minister of Agriculture, Dr. Akinwummi Adesina, ‎who made this known on Monday, August 8, in a statement issued and published on the website of the AFDB, said ‎the bank has ‎approved a whopping sum of $9 million equity investment, through the Fund for Agricultural Finance in Nigeria, FAFIN, in a bid to provide expansion capital to agricultural small and medium-sized enterprises, SMEs, in the country.

Adesina, noted that ‎FAFIN is a first-generation private equity fund, that provides financial capacity-building and technical assistance to commercially viable SMEs in the Nigerian agribusiness sector.

According to him, FAFIN, operates by using a unique value chain-centric approach, a combination of equity, quasi-equity, and convertible loan instruments, to provide loans for SME’s.

‎Adesina, noted that FAFIN would be implemented through ‎a bifocal lens, consisting of the twin objectives of competitive financial returns, and measurable positive social impact.‎

‎The Fund is jointly sponsored by the German KfW Development Bank, and the Government of Nigeria, through the Federal Ministry of Agriculture and Rural Development, FMARD.

‎The overall objective of the project, is expected to deliver strong development outcomes from household benefits and employment, through the creation of a large number of jobs, and the provision of certain agricultural products.

‎“The project’s contribution to inclusive growth, is expected to be significant, given the large number of jobs to be created, and out-growers to be reached at the level of sub-projects,’’ the statement said.

‎The ‎Fund’s primary focus will be on SMEs across the agricultural value chain, with crop value chain and geographic diversification.

‎It aims at fixing broken value chains to increase efficiency, reduce post-harvest losses, and increase smallholder farmer incomes and SME agribusiness profitability.

‎The Investment instruments will be primarily quasi-equity (convertible bonds, preference shares and structured royalties), and direct equity.

The ticket size ranges from $500, 000 to $5 million.

‎The Fund is aligned with the Bank’s ten-year strategy, focusing on inclusive growth, strengthening agriculture and food security, and access to local SME finance.

‎According to Adesina, the whole project is ‎in line with the bank’s strategy for Agricultural Transformation in Africa, from 2016-2025, and Strategy on Jobs for Youth in Africa, from 2016-2025.‎


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Buhari, Presidency Excite As Jonathan's Super Minister Sets To Save RECESSED Nigerian Economy With $9 million
At a time when President Muhammadu Buhari, is seeking to diversify the nation’s economy to Agriculture, a ‘Super Minister’, who served under the former President, Goodluck Jonathan administration, has indicated interest to assist in the process.

The President of the African Development Bank, AFDB, and former Minister of Agriculture, Dr. Akinwummi Adesina, ‎who made this known on Monday, August 8, in a statement issued and published on the website of the AFDB, said ‎the bank has ‎approved a whopping sum of $9 million equity investment, through the Fund for Agricultural Finance in Nigeria, FAFIN, in a bid to provide expansion capital to agricultural small and medium-sized enterprises, SMEs, in the country.

Adesina, noted that ‎FAFIN is a first-generation private equity fund, that provides financial capacity-building and technical assistance to commercially viable SMEs in the Nigerian agribusiness sector.

According to him, FAFIN, operates by using a unique value chain-centric approach, a combination of equity, quasi-equity, and convertible loan instruments, to provide loans for SME’s.

‎Adesina, noted that FAFIN would be implemented through ‎a bifocal lens, consisting of the twin objectives of competitive financial returns, and measurable positive social impact.‎

‎The Fund is jointly sponsored by the German KfW Development Bank, and the Government of Nigeria, through the Federal Ministry of Agriculture and Rural Development, FMARD.

‎The overall objective of the project, is expected to deliver strong development outcomes from household benefits and employment, through the creation of a large number of jobs, and the provision of certain agricultural products.

‎“The project’s contribution to inclusive growth, is expected to be significant, given the large number of jobs to be created, and out-growers to be reached at the level of sub-projects,’’ the statement said.

‎The ‎Fund’s primary focus will be on SMEs across the agricultural value chain, with crop value chain and geographic diversification.

‎It aims at fixing broken value chains to increase efficiency, reduce post-harvest losses, and increase smallholder farmer incomes and SME agribusiness profitability.

‎The Investment instruments will be primarily quasi-equity (convertible bonds, preference shares and structured royalties), and direct equity.

The ticket size ranges from $500, 000 to $5 million.

‎The Fund is aligned with the Bank’s ten-year strategy, focusing on inclusive growth, strengthening agriculture and food security, and access to local SME finance.

‎According to Adesina, the whole project is ‎in line with the bank’s strategy for Agricultural Transformation in Africa, from 2016-2025, and Strategy on Jobs for Youth in Africa, from 2016-2025.‎


How I Increase My Blokos Size & Stopped Premature Ejaculation Issues That Scattered My Relationship For 2years.. Click HERE for Details




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