TechEconomy
  • Privacy Policy
  • Manage Subscriptions
Saturday, December 9, 2023
Advertisement
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Apps
      • Laptop
      • Gadgets and Appliances
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • TECHECONOMY TV
No Result
View All Result
Podcast
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Apps
      • Laptop
      • Gadgets and Appliances
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • TECHECONOMY TV
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Podcast

Home » FirstBank to Support Businesses with $150m Afreximbank PATIM Facility

FirstBank to Support Businesses with $150m Afreximbank PATIM Facility

Yinka Okeowo by Yinka Okeowo
June 17, 2022
in Finance
0
Sifax
Advertisements

African Export Import Bank (Afreximbank) has announced the disbursement of a US$150 million finance facility to First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider.

The funding was provided under Afreximbank ’s Pandemic Trade Impact Mitigation Facility (PATIMFA).

RelatedPosts

fake Naira notes in circulation

BEWARE! Fake Naira Notes in Circulation

December 8, 2023

List of Switches, Super Agents and PSSPs Affected by NIBSS Directive

December 8, 2023

Afreximbank ’s US$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.

Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, commented: “This new disbursement under PATIMFA is a further proof of the relevance of the programme in helping African economies to recover from the crisis induced by the COVID-19 pandemic. Since April 2020, when PATIMFA was launched, we are more than proud to have disbursed more than US$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.”

Also expressing his delight in the partnership, Dr. Adesola Adeduntan, FirstBank’s CEO, 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.

Share this:

  • X
  • More
  • Email
  • WhatsApp
Tags: AfreximbankFirstBank Afreximbank
Previous Post

Now Rolling Out, LG QNED Mini LED TV Sets New Standard for LCD Picture Quality

Next Post

UN High-level Climate Action Champion, Nigel Topping, Visits Nigeria

Yinka Okeowo

Yinka Okeowo

Related Posts

fake Naira notes in circulation
Finance

BEWARE! Fake Naira Notes in Circulation

by Techeconomy
December 8, 2023
0

According to the Central Bank of Nigeria (CBN) “counterfeit banknotes, especially higher denominations, are in circulation. The CBN statement today...

Read more
NIBSS directive on Super App, PSSP, Switches

List of Switches, Super Agents and PSSPs Affected by NIBSS Directive

December 8, 2023
CMC Connect LLP survey on banking in Nigeria

CMC Connect LLP’ Survey Reveals Gaps in Nigerian Banking Perception

December 8, 2023
FSDAi Nyala Facility Extends $1mn to WIC Capital

FSDAi Nyala Facility Extends $1mn to WIC Capital to Boost Gender Lens Investing

December 7, 2023
NIBSS Directive to disconnect fintechs

NIBSS Directs Banks to Disconnect Non-deposit FIs from Transfer List

December 7, 2023
Naira and dollar

Naira Falls by 17%, Exchanges N951/$

December 7, 2023
Next Post

UN High-level Climate Action Champion, Nigel Topping, Visits Nigeria

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

TECHECONOMY PODCAST

Techeconomy Podcast
Techeconomy Podcast

Techeconomy Podcast is brought to you by TechEconomy. Every week we will bring new stories from startups and influencers who are shaping and changing the world we live in. We’ll also bring you reports on topics you should know.

Follow us @techeconomyng for more.

Listen OnSpotify
The Role of Ed-tech in Life Long Learning and Continuous Education
byTecheconomy

In this episode, we embark on a profound exploration of Ed-tech's integral role in lifelong learning and continuous education.

Our esteemed guest, Oluwatobi Adekunle, Co-founder of Growthskool, brings a wealth of insight to the discussion. As a visionary in the Ed-tech realm, he shares experiences, challenges, and triumphs from the forefront of Growthskool's transformative journey.

Join us in unraveling the ways in which Ed-tech is reshaping traditional education paradigms and fostering a culture of continuous learning. Oluwatobi's perspective offers a unique lens into the transformative power of technology in the realm of education.

At Techeconomy, our commitment lies in delivering nuanced coverage at the crossroads of Technology, Business, and the Economy. Our content is designed to empower decision-making and explore the transformative potential of innovative technologies.

—

Send in a voice message: https://podcasters.spotify.com/pod/show/techeconomy/message

The Role of Ed-tech in Life Long Learning and Continuous Education
The Role of Ed-tech in Life Long Learning and Continuous Education
October 19, 2023
Techeconomy
Filmmaking and Technology: A chat with Micheal Chineme Ike
June 7, 2023
Techeconomy
Search Results placeholder

NEWSLETTER

Subscribe

* indicates required
Techeconomy

Follow Us

MarkTECH

Gamification and Customer experience
MarkTECH

Gamifying Customer Engagement for Success 

by Techeconomy
November 13, 2023
0

Writer: ADEOLA ADEJOKUN Let's talk about the addictive nature of video games for a second. What keeps players glued to...

Read more

WomenPreneurs

Rukayat Alabi - RKY Group of Companies
WomenPreneurs

Rukayat Alabi: Empowering Lives and Businesses Through Tech

by Joan Aimuengheuwa
October 29, 2023
0

Rukayat Alabi, the CEO of RKY Group of Companies, a visionary entrepreneur who is revolutionizing the way people transition into...

Read more

BusinesSENSE For SMEs

Managing Difficult Customer
BusinesSENSE For SMEs

Five Keys to Managing Difficult Customers

by Techeconomy
August 23, 2023
0

You will at one point in your business be confronted with dealing with difficult customers. So, mastering the right strategies...

Read more
  • About Us
  • Contact Us
  • Policy
  • Careers

© 2023 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Apps
      • Laptop
      • Gadgets and Appliances
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • TECHECONOMY TV

© 2023 Techeconomy - Designed by Opimedia.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.