Regulatory Alerts2012-11-06 | DFD/PAIF/V5N300 Billion Power And Airline Intervention Fund (PAIF) Revised Guidelines (v5)
The Central Bank of Nigeria has approved an investment of N500 billion to catalyze financing for the country's real sector. Of this, N300 billion will be allocated to power and airline projects as an intervention fund. The Bank of Industry will manage the fund, with the Africa Finance Corporation serving as a technical advisor. The fund aims to fast-track the development of power and aviation sectors, improve credit terms, enhance financial positions of deposit money banks, and provide leverage for additional private sector investments. Eligible entities include corporate entities in the power supply value chain and airlines operating in Nigeria. The fund offers long-term loans, refinancing of existing loans and leases, and working capital facilities.