The Islamic Development Bank (IsDB) could avail the sum of $1 billion to Lotus Bank to back its bid to provide funds that could help plug Nigeria’s infrastructure gap, Kafilat Araoye, the chief executive of the Lagos-based non-interest bank, said.
The capital support funding facility could help spur growth in the key sectors of the economy, Mrs Araoye said at the 2024 IsDB Group Annual Meetings in Riyadh, Saudi Arabia’s commercial capital.
IsDB, a multilateral development finance bank, comprises 57 shareholding member countries, including Nigeria, and boasts $182 billion in total approvals to finance over 12,000 development projects since its inception in 1975.
