• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, July 13, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

FirstBank Gets $150m Afrexim Bank Loan

by Bukola Idowu
3 years ago
in Cover Stories
FirstBank
Share on WhatsAppShare on FacebookShare on XTelegram

African Export Import Bank (Afreximbank) said it has disbursed a $150 million finance facility to First Bank of Nigeria Limited to support businesses in Nigeria, under its Pandemic Trade Impact Mitigation Facility (PATIMFA).

 

Advertisement

Afreximbank said, the $150 million financial support will be accessible to FirstBank customers that are involved in the manufacturing and importation of products and equipment required to combat the COVID-19 pandemic, as well as initiatives to rehabilitate hospitals and strengthen diagnostic and testing capacity.
The loan will also be used for the financing of trade debt payments falling due to avert payment defaults in trade debt obligations. In addition, proceeds of the facility will help beneficiary businesses manage the impacts of the Ukraine crisis.

On his part the chief executive of FirstBank, Dr. Adesola Adeduntan, said: “we commend Afreximbank for this impactful financial response. It will immensely contribute to empowering many businesses adversely impacted by the economic shocks caused by Covid-19. The selection of FirstBank as a partner in this initiative is a testament to their confidence in our capacity and proven track record over the years.

“As a bank that has been woven into the fabric of our society for over 128 years, we remain committed to the success of businesses in our host communities and ensuring they are given the needed boost to sustain their operations and further drive economic growth in the nation.”, he concluded.

President and chairman of the board of directors of Afreximbank, Professor Benedict Oramah, noted that, the new disbursement under PATIMFA is a “proof of the relevance of the programme in helping African economies to recover from the crisis induced by the COVID-19 pandemic.

RELATED

Flood Warnings: We’re Ready For Downpour, States Declare

Flood Warnings: We’re Ready For Downpour, States Declare

6 hours ago
Polio: UNICEF, Radio Kano Launch ‘No More Zero Dose’ Campaign

UNICEF Raises The Alarm, Says 32% Of Nigerian Under-5 Children Malnourished

6 hours ago

“Since April 2020, when PATIMFA was launched, we are more than proud to have disbursed more than $7 billion to help Afreximbank member countries manage the adverse impact of the financial, economic and health shocks caused by the COVID-19 pandemic.

“Through First Bank, one of our trade finance intermediaries, this $150 million facility will help build the resilience of many businesses to the adverse impacts of the pandemic, while helping them overcome the consequences of the current Ukraine crisis.”


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel



Tags: Afrexim BankFirstBank
SendShareTweetShare
Previous Post

FG, ATCON Move To Actualise 70% Broadband Penetration Target

Next Post

New Fund Provides Capital For Africa’s Energy Transition

Bukola Idowu

Bukola Idowu

You May Like

Flood Warnings: We’re Ready For Downpour, States Declare
Cover Stories

Flood Warnings: We’re Ready For Downpour, States Declare

2025/07/13
Polio: UNICEF, Radio Kano Launch ‘No More Zero Dose’ Campaign
Cover Stories

UNICEF Raises The Alarm, Says 32% Of Nigerian Under-5 Children Malnourished

2025/07/13
Champions Among Giants: Nigerian Stars Who Conquered 2024/25 Football Season
Cover Stories

Champions Among Giants: Nigerian Stars Who Conquered 2024/25 Football Season

2025/07/13
FG Spends N4.3m Daily To Feed 3,823 Inmates On Death Row
Cover Stories

FG Spends N4.3m Daily To Feed 3,823 Inmates On Death Row

2025/07/12
Mechanical Engineer From Kwara — All You Need To Know About New NNPCL Boss Bashir Ojulari
Cover Stories

Sale Of State-owned Refineries Not Ruled Out–NNPC GMD

2025/07/12
Against All Odds: 10-Year-Old Survives 10 Surgery  After Abandonment
Cover Stories

Against All Odds: 10-Year-Old Survives 10 Surgery After Abandonment

2025/07/12
Leadership Conference advertisement

LATEST

Team Nigeria Unveils Official Squad for 3rd African U18/U20 Athletics Championship

Nigeria Dominates ValueJet Lagos World Para Table Tennis Future 2025

Ikorodu City To Face Shooting Stars In Eko Int’l Cup Opener

WAFCON: Falcons Get $200k For Q/Final Qualification

FIBA U-19 Women’s World Cup: Olopade Applauds Junior D’Tigress for Historic Victory Over China

Mission X: Super Falcons To Use Algeria As Shooting Practice

Titanic Battle Looms As Chelsea Clash With PSG In Club World Cup Final

Al-Hilal Rival Galatasaray With New Osimhen Bid

Tennis: Swiatek Defeat Anisimova To Win Maiden Wimbledon Title

Tennis: Sinner, Alcaraz Face Off In Wimbledon Final Rematch Today

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.