The Bank of Industry has successfully raised a substantial new funding package worth €2bn through global loan syndication, to improve its financial capacity and support a wide range of development initiatives.
The initiatives include infrastructure projects, small and medium-sized enterprise growth, and industrial diversification in key economic sectors.
The BOI Managing Director, Olasupo Olusi, disclosed this at a media parley to commemorate the 65th anniversary of the bank on Thursday in Lagos.
He said the amount is part of over $5bn raised from the international capital markets through Eurobonds, loan syndications, and green finance instruments since 2017 to expand its national footprint.
He said, “As we mark this historic milestone, I would like to highlight some of the Bank’s key achievements over time. In 2007, BOI’s authorised share capital was increased to N250bn to put the bank in a position to address its mandate better; this was subsequently increased to N500bn in May 2023.
“In recognition of the pivotal role of MSMEs in national economic development, the Bank in 2014 engaged 122 SME consultants and entered strategic alliances with 10 SME-friendly commercial banks.”
