European Bank To
Invest In Power Sector
Nigeria
has welcomed plans by the European Investment Bank to increase
financial grants for financing projects in the energy sector as
well as encouraging small and medium scale enterprises.
Speaking when Mr. Plutarchos Sakellaris – Vice President of the
European Investment Bank and his delegation paid a visit to Vice
President Goodluck Jonathan in Abuja, Nigeria’s Vice President
said the assistance of the EIB was timely, given Nigeria’s
resolve to boost economic activities by increasing her power
generation and distribution capacities.
He said that the assistance of the European Investment Bank
would also be required for the expansion of the agricultural
sector as well as small and medium scale enterprises, to
facilitate jobs creation for the youths.
The European delegation is billed to announce a substantial
commitment of the EIB to some Nigerian banks on Thursday.
The EIB is the European Union’s long-term lending bank, owned by
EU’s 27 member-countries, which has been active in Africa
for over 40 years.
PR/ANEKE/Yinka
