IFC lends Zenith Bank $100m for power,infrastructure projects financing

International Finance Corp (IFC) has lent Nigeria’s Zenith Bank $100 million to expand lending in Africa’s biggest economy, the private arm of the World Bank said on Tuesday.

The funds would be used for financing infrastructure and power projects, identified as major bottlenecks to Nigeria’s economic growth. Zenith Bank is a top-tier commercial lender with over 350 branches in Nigeria.