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February 23, 2024
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USAID Facilitates $205m Investments for Nigerian Agribusinesses in Five Years

In the last five years, the United State Agency for International Development (USAID) has promoted private sector-led economic growth in Nigeria by facilitating $205m in debt and equity investments for Nigerian agribusinesses.

The disclosure was made on Tuesday in a statement announcing the USAID-funded West Africa Trade and Investment Hub workshop themed, ‘Leveraging Private Sector Engagement to Promote Sustainable Impact,’ that began on Wednesday.

According to the statement, the two-day event will highlight the Trade Hub’s efforts to expand trade and investment opportunities and improve livelihoods and communities in West Africa. It stated that Nigeria, with its untapped pool of labour, has vast potential for economic growth.

It added that there is an opportunity for the country to become a dominant exporter and hub for the West Africa region and Africa.

However, the agency noted that, “Over the past five years, USAID has promoted private sector-led economic growth in Nigeria by facilitating $205m in debt and equity investments for Nigerian agribusinesses. USAID also provided partial risk guarantees that will support up to $120m in loans to agricultural, health, and renewable energy businesses.”

In the last five years, the United State Agency for International Development (USAID) has promoted private sector-led economic growth in Nigeria by facilitating $205m in debt and equity investments for Nigerian agribusinesses.

The disclosure was made on Tuesday in a statement announcing the USAID-funded West Africa Trade and Investment Hub workshop themed, ‘Leveraging Private Sector Engagement to Promote Sustainable Impact,’ that began on Wednesday.

According to the statement, the two-day event will highlight the Trade Hub’s efforts to expand trade and investment opportunities and improve livelihoods and communities in West Africa. It stated that Nigeria, with its untapped pool of labour, has vast potential for economic growth.

It added that there is an opportunity for the country to become a dominant exporter and hub for the West Africa region and Africa.

However, the agency noted that, “Over the past five years, USAID has promoted private sector-led economic growth in Nigeria by facilitating $205m in debt and equity investments for Nigerian agribusinesses. USAID also provided partial risk guarantees that will support up to $120m in loans to agricultural, health, and renewable energy businesses.”

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