devinitorg/iati-policy-markers huggingface dataset:
ISC VP Fund IV The investment proposal is for up to US$5 million in equity into Ventures Platform Fund IV (the Fund), an African seed fund that is raising US$30 million to make early-stage investments, primarily in Nigeria and the Rest of Africa. The Fund is focused on making early-stage investments (pre-seed to series A) in tech and tech-enabled startups targeting the mass market in Africa. The Fund had a first close in December 2021 of US$14.9 million.  The Fund will be supported by the Blended Finance Facility (BFF) of the IDA 19 IFCMIGA Private Sector Window (IDA PSW), created by the Word Bank Group to catalyze private sector investment in IDA countries, with a focus on fragile and conflict-affected states. The Project follows the AIMM (Development Impact) Rating for the Startup Catalyst Envelope.

IFC anticipates that the Project would result in increased access to seed stage equity for digital startups in Nigeria, Kenya, Egypt, and Rwanda, countries where venture capital availability has increased in recent years, although challenges for seed- and early-stage startups, especially in Rwanda, persist and continue to deter their establishment. The Project is also expected to increase the ability for startups to succeed and scale digital businesses, through the Funds mentorship and window for follow-on funding.

Beyond the Project, this investment is expected to contribute to developing the start-up ecosystem and venture capital market in Nigeria and other operating markets, by demonstrating the commercial viability of the VC fund model in the country. IFCs support also enables creation of a constant and quality pipeline of investment opportunities that investors at Series A stage and beyond depend upon.
Husk Minigrids Husk Power Energy Systems Nigeria Limited (Husk Nigeria or the Company) is a subsidiary of Husk Power Systems Inc. (HPS or Husk). Husk is one of the leading mini grids developers/operators, with a primary focus on rural communities. Husk initially started operations in India in 2008 and entered Nigeria in 2020. Globally, Husk has 270+ mini grid sites including 30 sites in Nigeria. Total installed capacity is 9MW. Husks mini grids are hybrid mini grids which combine solar photovoltaic panels, battery energy storage systems, and diesel generators, and normally are operated independently (i.e. the mini grids are not connected to the main electricity grid).   IFC is considering a debt investment of up to US$5 million to finance up part of the Companys mini grid expansion plan in Nigeria (the Project), including up to US$2.5 million from IFC as implementing entity of the Canada-IFC Renewable Energy Program for Africa. The debt investment is part of an up to US$100m Nigeria DARES envelope under which IFC is looking to provide similarly structured debt investments to several mini grid developers/operators. The Project is expected to provide cleaner, cheaper, and more reliable electricity to rural households and business that currently have expensive, unreliable, unsustainable, or no access to electricity. The Project contributes to improving access to electricity in Nigeria, a market characterized by low access (60%) and low reliability by financing mini grid sites in underserved rural areas. It will also provide a more affordable alternative to diesel generators. The Project will also result in a reduction in GHG emissions, and support the decarbonization of Nigerias power sector, where 77% of its electricity is generated from fossil fuels, and the use of diesel generators is widespread due to unreliable supply. At the Market Level, the Project contributes to creating a hybrid solar PV mini grid market in Nigeria by supporting an innovative business model that raises the efficiency of solar mini grids with demonstration potential. It forms part of the WB Nigeria DARES program to utilize private sector investments to scale mini grids through a PBG program. The Project also catalyzes private sector investments arising from Nigerias favorable regulatory framework for mini grids (100/100 score on ESMAPs Regulatory Indicators for Sustainable Energy).
Moorhouse Properties Limited Moorhouse Properties Limited (MPL or the Company) is embarking on a $37.4 million expansion Project which involves the (i) construction of two 3- star hotels and two 2-star hotels to be implemented respectively by its operating companies A. M. Hotels Limited (AMHL) and MP Budget Limited (MP Budget); (ii) setting up of its corporate office and (iii) refinancing of debt (the Project).   The main purpose of the Project is to meet demand in the middle and budget segments of the Nigerian hotel market by developing an easily-recognizable international brand (Ïbis) and an indigenous value brand (Travelhouse) of international standard.  MPLs expansion model is centered on offering to business and leisure travelers, comfortable and moderately priced lodging facilities in markets where such products are presently not available.  The emphasis is on providing room quality with less public area, food and beverage outlets than a full service. The proposed Project will (i) bridge the supply gap for high quality under-served hotel markets in major business cities in Nigeria which is presently met with sub-standard accommodation and guest houses, (ii) contribute to the improvement of the business infrastructure of the country, (iii) create significant job opportunities to the local people and linkages with other sectors of the local economy many of which are SMEs, both during Project implementation and ongoing operations, such as small contractors, building material suppliers, agricultural and food processing, textiles manufacturers, etc, (iv) encourage improvements in the standards of existing hotels and transfer of hotel management expertise and training of the local staff, and (v) the Project has the potential to provide a demonstration effect and kick off the development of a mid and budget market hotel segment in Nigeria.      It is also important to note that international chains assure guests of an established product and service quality; often encourage broad improvements in the standards of existing hotels; and provide staff with compensation usually above local norms.
Tolaram Lagos FZ Equity The proposed Project consists of a financing package made up of (i) an equity commitment of up to US$ 50 million and (ii) a corporate finance loan of up to US$100 million in favour of Lagos Free Zone Company (LFZC or the Company) which is a Special Economic Zone (SEZ) covering an area of 842hectares in Lagos, Nigeria. The most significant expected project-level outcomes are stakeholder effects through increased access to high-quality industrial spaces for tenants, capacity building for suppliers, and economy-wide effects through creating high-quality formal jobs and economic value-add. Beyond the Project, IFC anticipates the investment to have the potential to promote the integration of domestic firms in Nigeria to international markets and improve the connectivity of the Lekki peninsula axis of Lagos state, by supporting the development of a large scale Special Economic Zone project in Nigeria with demonstration potential.
Eleme Petrochemicals Company Limited Eleme Petrochemicals Company Limited (Eleme or the company) was incorporated in 1988 as a 100% subsidiary of the Nigerian National Petroleum Corporation (NNPC) and started operations in 1995.  Eleme is one of only two petrochemicals complexes in Nigeria (both of which are state owned).  Due to operational problems (inadequate maintenance, lack of spare parts, equipment break-downs etc.) the plant has operated at a very low capacity utilization since its inception.      The project is to assist Indorama International Finance Plc, UK (IIF or the Sponsor) in the privatization purchase of a 75% equity stake in Eleme and in implementing a turnaround capital investment program to return the company to profitability.  The proposed transaction has two components:    -  Privatization Acquisition Finance (Acquisition): IIF would set up two special purpose vehicles (SPVs) to finance the purchase of its shares in Eleme.  The first SPV (Offshore SPV) would be the main investment vehicle to own 50.3% of Elemes equity capital and the second SPV (Onshore SPV) would own the balance 24.7% of Elemes shares.  The Onshore SPV would be owned by the Offshore SPV and would also have the Rivers State government as a minority shareholder.      -  Turn-around Capital Expenditure (Project):  IIF estimates that Eleme will require a capital expenditure of $160 million towards repairs, refurbishment, modernization and working capital in order to restore the plant to full capacity utilization. With a population of more than 130 million, Nigeria is Africas most populous country. The past few years have witnessed steady economic growth in the country, driven primarily by the governments aggressive social and economic reform agenda, as well as higher oil prices. The proposed project will play an important role in furthering this process. Through the transfer of existing state assets to the private sector and a capital expenditure program to help bring them back into productive use, the project is expected to:    -  add value to Nigerias natural resources;    -  support local upstream and downstream players;    -  provide momentum to the privatization agenda;    -  facilitate the development of the downstream sector; and    -  make available domestically produced polyethylene (PE) and polypropylene (PP) for which the historically strong local demand has been met largely through imports.     Indicators that will be used to monitor the development impact of the project include:    - purchases of Natural Gas Liquids (NGLs) as feedstock;    - PE and PP sales to local companies; and    - number of state-owned companies privatized.
WCS Crisis Response Access Bank PLC The proposed investment consists of a one-year, renewable unsecured senior loan of up to US$50 million to Access Bank PLC (Access Bank or Bank) under the FIG COVID-19 Emergency Response Working Capital Solutions Envelope (WCS Envelope). The WCS Envelope is designed to provide funding to existing IFC client banks in emerging markets that will then extend new trade-related or working capital loans to companies whose cash flows have been disrupted by the global outbreak of the corona virus pandemic. The WCS facility will support the Bank in increasing its lending to FMCG companies importing raw materials, petroleum products, goods and commodities traders, corporates and Small and Medium Enterprises. All projects under the COVID-19 Facility share the same development thesis that, by supporting its clients' capacity to sustain operations during these unexpected and uncertain times , IFC best positions the private sector to support the economic recovery process, shortening the time it will take for the most vulnerable to return to their traditional income-earning opportunities.
Hygeia 2014 Hygeia Nigeria Ltd. (HNL or Hygeia) is Nigerias leading and largest integrated healthcare provider offering both hospital and health management services. As of today, HNL operates 2 hospitals and 3 clinics in Lagos, a health maintenance organization (HHMO), a Community Health Plan (HCHC) for low income families and a Foundation (HNLF) for capacity building of medical professionals in disease programs including HIV/AIDS.  HNL is seeking to raise $16.1m to upgrade existing hospitals and expand its operations. $49.7m will also be raised for the acquisition of secondary shares from existing shareholders. The purpose of the project is to increase access to good quality and affordable healthcare services in Nigeria by helping Hygeia to expand its activities and achieve optimal operational efficiency. i) Quality of healthcare: One of the co-investors alongside IFC is a strategic investor who will work with the company to improve service provision, professionalize management and improve quality control systems in Hygeia thereby increasing the availability of quality healthcare in Nigeria. Furthermore, as the only Nigerian hospital to be accredited by Joint Commission International (JCI), an investment in Hygeia would also support an increase in the quality of services available in Nigeria. ii) Access to healthcare: The expansion of Hygeia''s bed capacity and service offering will help address the vast shortage of healthcare provision in Nigeria and allow patients to access appropriate treatment in Nigeria rather than abroad. Additionally, the project is expected to increase the capacity of the HMO to expand its enrollee base, providing greater access to healthcare in the country.  iii) Affordability: The investment is expected to result in operational efficiencies lowering costs which could be passed on to customers thereby enabling more affordable and quality healthcare.  iv) Employment: The business expansion will result in the creation of skilled jobs in healthcare professions as well as related lower skilled jobs. v) Demonstration effect: The increasing success of Hygeia will demonstrate the commercial viability of investing in healthcare providers in Nigeria and will attract further capital to the sector.
UBA/STB Project The project consists of:     -  a partially convertible senior loan of up to $50 million to support the long-term lending activities of newly merged, United Bank of Africa (UBA), now the largest commercial bank in Nigeria in terms of total assets and;    -  an IFC partial guarantee (PCG) amounting to approximately $25 million to support a local currency denominated bond offering for UBA to support its residential mortgage lending program.      The New UBA was formed as a result of an effective takeover of UBA by Standard Trust Bank (STB), the fifth largest bank in terms of assets in Nigeria. The merger which was announced in January, 2005 was approved by the regulators in July, 2005 .The merged entity now controls approximately $3 billion in assets (14% of the banking sector) and $360 million in shareholders equity.  The bank also has over 400 branches spread through out Nigeria.  UBA intends to use the proceeds from IFCs term loan to:    -  leverage its large equity base and    -  to provide scarce funding to its corporate and SME clients for their capital expenditures.     The $25 million PCG is expected to support up to Naira (N) 13 billion (approximately $100 million equivalent) issuance with a maturity of up to 10 years. The Naira proceeds of the issue are expected to be used mainly for the provision of mortgage loans to be originated by UBA.
GTB Housing, Corporate&Medium Enterprises Line of Credit The project consists of a line of credit of up to $30 million to Guaranty Trust Bank Plc (GTBank or the Bank), one of the largest banks in Nigeria. The projects main objective is to address the scarcity of housing, construction and residential construction and term finance in Nigeria, which has forced Nigerian commercial banks to rely on their capital, or to take maturity risk in order to finance longer term projects. The proposed investment allows IFC to address part of these constraints by making available long term foreign exchange resources through an efficient financial institution. The project is expected to contribute to private sector development in Nigeria by providing the much needed long-term finance to supplement to the countrys low foreign direct investment. The project is expected to provide more affordable long term financing for construction, infrastructure and residential housing construction and support corporate and medium enterprises. The project is also expected to have a catalytic effect on the housing sector in Nigeria by helping to create the scale and size needed to stimulate the supply of quality construction of residential homes which qualify for mortgage financing. The development of this innovative housing finance product will help diversify the GTBs asset class.
WCS Crisis Response Zenith Bank The proposed investment consists of a one-year, renewable unsecured senior loan of up to US$100 million to Zenith Bank Plc (Zenith or Bank) under the FIG COVID-19 Emergency Response Working Capital Solutions Envelope (WCS Envelope). The WCS Envelope is designed to provide funding to existing IFC client banks in emerging markets that will then extend new trade-related or working capital loans to companies whose cash flows have been disrupted by the global outbreak of the coronavirus pandemic. The WCS facility will support the Bank in increasing its lending to FMCG companies importing raw materials, petroleum products, goods and commodities traders, corporates and Small and Medium Enterprises. All projects under the COVID-19 Facility share the same development thesis that, by supporting its clients' capacity to sustain operations during this acute shock, IFC best positions the private sector to support the economic recovery process, shortening the time it will take for the most vulnerable to return to their traditional income-earning opportunities.
GTFP Providus B. The proposed project consists of a US$10mn GTFP facility for Providus Bank to cover trade transactions with a door-to-door tenor of up to 6 months. This facility will allow the bank to grow its trade finance business, support the import substitution initiative, access foreign exchange where required as well as create access to a wider network of confirming banks. Project Impact:
Stakeholder Effects: Access to Trade Finance for SMEs in Nigeria  IFCs GTFP will provide trade finance support to Providus Bank and consequently to the Banks customers thereby promoting trade for both corporates and SMEs in Nigeria. By joining the GTFP, the Bank will have access to a network of 400 confirming banks. This is expected to help boost the profile of the Bank and open doors for more future engagements with the confirming banks beyond trade. This Project will consequently allow the Bank to offer better terms to its clients which includes SMEs. 

Contribution to Market Creation:
Resilience: GTFP builds, protects, and deepens trade finance networks in lower income/IDA and fragile and conflict-affected countries, by continually enabling individual trade transactions to take place, which slowly builds resilience of trade networks, trade, and income to these economies. This support is especially critical in the maintenance of liquidity and essential goods when the market is facing shocks (most recently triggered by COVID-19). GTFP also ensures that the flow of essential goods and finance is maintained, preventing a potential crisis and further building resilience in the market.
FBN Nigeria WCS The proposed project consists of an investment of up to US$150 million in First Bank of Nigeria Limited (FBN or the Bank), a leading bank operating in Nigeria. The investment will be in the form of a working capital solutions facility (WCS), to support the Bank in expanding its trade finance program to Small and Medium Enterprises (SMEs). The facility will have a maturity of one year, renewable annually up to two times for an aggregate tenor of 3 years. A carve-out of 10% of the WCS facility (up to US$15 mn) will be targeted at supported climate-smart projects while an additional 10% will be dedicated to Women-Owned SMEs (WSMEs). By supporting trade finance in partnership with one of the largest Nigerian banks, the project will have a demonstration impact, promote competition, and encourage other lenders to participate in funding trade finance in Nigeria:
1. Change in accessibility of trade finance for SMEs: The project is expected to improve access to stable USD liquidity for SMEs to support the importation of raw materials and critical commodities. With the funding from this investment, FBN will be able to reach a wider group of SMEs such as those involved in climate smart agriculture supply chains (irrigation equipment, high quality and climate resilient seeds, and alternative fertilizers, etc.), solar companies and solar supply chains, as well as the import-export and distribution of energy efficient and renewable energy equipment.
Name% Shareholding1Eastspring Investments Singapore1.92%2Ayoola Oba Otudeko1.50%3Oyekanmi Hassan-Odulake0.86%4T. Rowe Price Associates0.77%5Norges Bank0.58%6BlackRock Fund Advisors0.35%7Global X Management Co. LLC0.29%8Eaton Vance Management0.23%9Legal & General Group Plc0.15%10Eke Urum Kalu0.06%Total for top 10 largest shareholders6.70%Others 93.30%Total 100.00%
2. Change in accessibility of climate finance: IFC anticipates that the project will increase financial access for climate smart investments by providing financing to FBN for targeted on-lending to climate smart projects by SMEs and corporates, as this is in scarce supply in Nigeria.
3. Competitiveness: The project will help jumpstart the process of raising climate finance and establish a new asset class for the Bank. Through demonstration and replication, IFC expects other banks to adopt a similar systematic approach to establishing their green lending portfolio.
4. Sustainability: IFC's engagement with FBN will help build capacity in the Nigerian banking system to scale up green financing with the introduction of tools to identify, appraise and report on green assets, as well as green certification standards.
CDel SLGP SC Nigeria RSF1 The proposed project consists of an unfunded Risk Sharing Facility (RSF) in an amount of up to US$10 million equivalent in local currency, which will guarantee 50% of an up to ~US$20 million (local currency equivalent) portfolio of loans to Small and Medium Enterprises (SMEs) to be originated by the Bank. The RSF (the Project) will support the Bank in increasing its lending to SMEs, particularly Women-owned SMEs (WSMEs). The proposed project is conceived as the initial pilot of a multi-phase implementation, with the possibility of expansion to other key subsidiaries. Stakeholder Impact: Increased access to finance for SMEs: IFC anticipates that the RSF will allow the Bank to sustainably increase its SME lending profile by providing working capital to support commerce, funded trade finance for the importation of goods/raw materials, and longer-term loans to finance the acquisition of energy efficient equipment and/or business expansion through the risk-sharing arrangement, and hence contribute to increasing access to finance for SMEs. The Bank will also target particularly underserved sub-segments such as WSMEs and climate smart SMEs. The targeted subsegments, and projected quantum of financing to each, will be further defined at appraisal. 

Contribution to Market Creation: Competitiveness: IFC, by providing longer term financing through an RSF and leveraging the complementary capacity building, will support the Bank in the development and scale-up of SME product offerings and therefore its ability to lend competitively and profitably to SMEs. in Nigeria, an underserved sector perceived by local banks as risky. This would demonstrate the commercial viability of SMEs to the wider sector and help induce greater capital flows towards SMEs.
Diamond Bank Plc The project consists of a line of credit of up to $20 million to Diamond Bank Plc (Diamond Bank or the Bank), one of the largest new generation banks in Nigeria. The project's main objective is to address the scarcity of term finance in Nigeria, which has forced Nigerian commercial banks to rely on their capital, or take the maturity risk in order to finance longer-term projects. The credit line will also be used to support small to medium enterprises, a critical sector in the Nigerian economy. The proposed investment allows IFC to address part of these constraints by making available foreign exchange term resources through an efficient financial institution.