The Federal Government of Nigeria has urged the European Union, EU, to invest in the proposed Wholesale Development bank through the union’s development financing outfit, the European Development Bank, EIB.
The Minister of State for Finance, Bashir Yuguda, made the call while receiving a delegation of the European Union led by the EU Ambassador to Nigeria, Michel Arrion.
Mr. Yuguda said the bid to set up a Wholesale Development bank has raised significant interest among global funding agencies.
According to him, the World Bank has pledged about $500 million to the proposal, while other development-oriented financial institutions like the African Development Bank, ADB, have also committed some funds for the take-off of the bank.
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