African Export-Import Bank (Afreximbank) said it has successfully arranged a syndicated $3.3 billion crude oil prepayment facility sponsored by the Nigerian National Petroleum Company Limited (NNPC Ltd).
The bank in a statement posted on its website said an initial disbursement of $2.25 billion has been made.
NNPC Ltd and Afreximbank had in August last year signed a commitment letter and term sheet for an emergency crude oil repayment loan.
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