BNW

B N W: Biafra Nigeria World News

STB, US EX-IM Bank Sign $30m Credit Facility Standard Trust Bank Plc (STB) and the US EX-IM Bank are set to tie the $30 million Credit Guaranty Facility (CGF) recently granted the former for on-lending to customers, by the US based finance institution. Officials of the US EX-IM Bank will on Friday begin a visit to STB to send the fact for the grant. During the visit the STD MD, Mr Tony Elumelu and the EX-IM Director in charge of Africa, Mr. Joseph Grandimaisson will put pen to paper in the second leg of the official signing ceremony which took place in Washington D.C, United States of America recently. Officials of both institutions have been working on the operational details of the $30million Credit Guaranty Facility, which will enable STB to provide medium-term funding for the bank's customers interested in the importation of specified American goods. The facility is pre-approved, thus shortening significantly the processing time required to conclude all credit requests under the CGF scheme. This is the first time the US EX-IM Bank will be extending such a facility to a West African institution and the second time in black Africa after Kenya. "We already have a number of relationships with other Nigerian banks but this hopefully, would be the first of several credit guarantee facilities. We happen to believe that STB is an excellent bank to begin working with," Grandimaisson said recently at the Washington ceremony. In less than 10 years of operations, STB has gained reputation for being technology-savvy and customer-centric. With over 90 branches spread across the country, STB is widely acclaimed as the largest on-line retail branch network in Nigeria. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

	BNW News
Voice of Biafra | Biafra World | Biafra Online | Biafra Web | MASSOB | Biafra Forum | BLM | Biafra Consortium
	© 2001 BNW BiafraNigeriaWorld  Privacy Policy ---------------------------------------------------------------------------------- Powered by ACENetwork ----------------------------------------------------------------------------------
	Axiom PSI Yam Festival Series, Iri Ji Nd'Igbo the Kola-Nut Series,Nigeria Masterweb