Saturday, December 5, 2009

Japan gives Nigeria $1 billion grant

The government of Japan signed a $1 billion private sector financing grant with the African Development Bank (ADB) in Abuja, Nigeria this past Thursday. The grant is for promoting private sector enterprises in Nigeria.

The first beneficiary of the grant was Michael Barleon, the managing director and chief executive officer of an Ikeja, Lagos based microfinance bank, which marked its first anniversary of operation about two weeks ago. The grant was presented to him by the Japanese Ambassador to Nigeria, Mr. Toshitsugu Uesawa on behalf of his country.

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