Sterling Bank has announced its acquisition of a $40 million facility from the Turkey EXIM Bank,
ThisDay News reports. The facility grant was obtained upon the conclusion of a due diligence on Sterling Bank.
According to Sterling Bank’s official statement, the facility is set to support trade businesses and projects in the country with Turkish origin. It will enable Nigerians currently in business partnerships with Turkish nationals to access finance for their businesses, particularly in the area of raw materials importation and production infrastructure.
Sterling Bank was selected by Turkey EXIM Bank in acknowledgement of its major role in international finance and its reputation for supporting both local and international institutions.
The Turkey EXIM Bank is a state-owned organisation with a role as the Turkish government’s major export incentive instrument.
Source: ThisDay News
