The
French Agency for Development (AFD), a public development finance institution
has said it recently approved €400 million as grant to finance transport and
energy projects in Nigeria.
The
Country Director, AFD, Mr. Hubert Dognin stated this at the European Union
(EU)- Nigeria business forum held in Lagos.
He
said his agency needed to identify projects with Nigeria which would need
financing.
According
to him, the facility for Nigeria, under the infrastructure trust fund and the
regional indicative program is an EU facility.
“At
the regional level, we have €400 million available for transport and energy and
at the national level, for the national indicative program, we have $150
available to finance the energy sector,” he added.
Also
commenting on the improved bilateral relationship trade between the EU and
Nigeria, the EU Ambassador to Nigeria and the Economic Community of West
African States (ECOWAS), Mr. Michael Arrion said: “EU Foreign Direct Investment (FDI) stock in
Nigeria grew from €25.3 billion (N5.3trillion) in 2011 to €27.2 billion (N5.7
trillion) in 2012.
“The
EU is also Nigeria's most important
