BoI funds for in­dus­trial growth

Weekly Trust - - News - Fran­cis Arinze Iloani

The Bank of In­dus­try, (BoI), has reaf­firmed its man­date of sup­port­ing only bank­able ven­tures that aid in­dus­trial growth and pro­mote eco­nomic de­vel­op­ment.

The bank, while re­act­ing to re­ports in sec­tions of the so­cial me­dia on its pur­ported part­ner­ship with­re­li­giousin­sti­tu­tions,ex­plained that BoI has never fi­nanced any em­pow­er­ment pro­gramme by re­li­gious or­ga­ni­za­tions nei­ther did it par­tic­i­pate in the pro­gramme be­ing ref­er­enced.

Ac­cord­ing to a state­ment from the Com­mu­ni­ca­tions Unit of the bank, “BoI as Nige­ria’s fore­most De­vel­op­ment Fi­nance In­sti­tu­tion only sup­ports po­ten­tially vi­able ven­tures that will drive the na­tion’s In­dus­tri­al­i­sa­tion agenda, im­prove the econ­omy and crest jobs.”

The state­ment, how­ever noted that, the bank part­ners with or­gan­i­sa­tions with pro­pos­als as long as they of­fer re­pay­ment plans and have devel­op­men­tal as well as so­cial im­pact.

“The bank does not fund re­li­gious pro­grammes and ac­tiv­i­ties rather, it only fi­nances po­ten­tially bank­able ven­tures pro­moted by do­mes­tic and for­eign in­vestors of all faiths,” the state­ment ex­plained.

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