Economics
IFC to Expand Nigeria Investments to $2 Billion by 2014
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The International Finance Corp., the World Bank’s private-lending arm, plans to boost investments in Nigeria by 25 percent to $2 billion by next year and is working with regulators to start a $1 billion local-currency bond program.
Funds to be raised directly by the IFC or mobilized from other sources will be targeted at industries that offer competitive advantage to the West African nation, Solomon Adegbie-Quaynor, the country manager, said in an Aug. 2 interview from Lagos, Nigeria’s commercial capital.