Sergio Pimenta, the Regional Vice President for Africa at the International Finance Corporation (IFC), revealed that the institution’s investments in Nigeria amount to $2 billion and are diversified across various sectors.
Speaking at the BoI-IFC Conference on Empowering Futures in Lagos, Pimenta highlighted that IFC’s investment portfolio in Nigeria is the second-largest in Africa.
The investments span trade finance, manufacturing, financial markets, and infrastructure, with a focus on supporting trade, financial inclusion, and access to finance for Micro, Small, and Medium Enterprises (MSMEs).
The partnership between the Bank of Industry and IFC aims to enhance access to finance and export credit, contributing to Nigeria’s industrialization efforts. The IFC is a World Bank Group entity dedicated to stimulating private investment and fostering markets where they are most needed.