Includes how major projects are financed and gives examples where relevant. Explains activities of the multilateral development banks in and other aid-funded projects where procurement is open to U.S. bidders.
Last Published: 6/20/2016

Local funding can be obtained through any Nigerian bank.  To a limited extent, insurance companies, building and property development companies, pension fund companies and other institutional investors can also provide financing.  Private equity firms also exist and can support projects.  An example is the African Capital Alliance (ACA) based in Lagos and owned by an American, which in September 2011 acquired 60 percent equity in Union Bank Nigeria PLC.
 
U.S. government financing agencies are active in Nigeria.  The U.S. Trade and Development Agency (USTDA) provides financing for feasibility studies, while the Export-Import Bank (Ex-Im Bank) supports the export of goods made in the United States.  Ex-Im Bank has signed a Memorandum of Understanding with the Nigerian Government to prioritize the financing of up to $1.5 billion in U.S. equipment for Nigeria’s the power sector.  The Overseas Private Investment Corporation (OPIC) provides insurance against political risks for U.S. investments overseas as well as project financing.  The African Development Bank (AfDB) also grants to finance certain operations of companies exporting goods from Nigeria.  The AfDB channels these loans through the CBN to the Nigerian Export‑Import Bank (NEXIM), Bank of Industry (BOI), and licensed export financing banks.

U.S. Commercial Service Liaison Offices at the Multilateral Development Banks (African Development Bank, World Bank)
The Commercial Service maintains Commercial Liaison Offices in each of the main Multilateral Development Banks, including the African Development Bank and the World Bank. These institutions lend billions of dollars in developing countries on projects aimed at accelerating economic growth and social development by reducing poverty and inequality, improving health and education, and advancing infrastructure development. The Commercial Liaison Offices help American businesses learn how to get involved in bank-funded projects, and advocate on behalf of American bidders. Learn more by contacting the Commercial Liaison Offices to the African Development Bank (http://www.export.gov/afdb) and the World Bank (http://export.gov/worldbank).
 
Web Resources
Commercial Liaison Office to the African Development Bank: http://www.export.gov/afdb

Commercial Liaison Office to the World Bank: http://export.gov/worldbank

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.


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