Lagos - Proparco, a French development finance institution, has agreed to provide Ecobank Transnational Incorporated (ETI), the holding company of Ecobank, with a loan of $50million.
The loan facility with a 10-year maturity will help Ecobank strengthen its long-term resources and support the development of its local banking network, reports ThisDay.
The bank said the loan facility will enable Ecobank to expand credit to productive sectors of the African economy at a time when liquidity is tight.
At present, Ecobank operates in 35 African countries.
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