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Project Brief - Access Bank Nigeria
This LOC is to be utilised by Access Bank to finance the establishment; expansion; modernisation and diversification of private sector productive facilities in various sectors of the Nigerian economy. Sectors targeted by Access include infrastructures, agribusiness, manufacturing, telecommunications and oil and gas. The loan will be used largely for the purposes of providing project finance, specifically to finance the purchase or importation of capital and replacement equipment and machinery as is required, which would be used to increase the productive capacities and the export potential of the sub-borrowers. Part of the loan will be used to meet the financing needs of SME’s; particularly those that are export oriented. The Bank will ensure that Access will use the funds for the sole intention for which they are provided by incorporating such clauses in the legal agreement that will be signed by both parties.