Stanbic IBTC secures CNY800m loan from China Development Bank
BY TEMITOPE ADEBAYO
Stanbic IBTC Bank has secured a landmark CNY800 million (Renminbi) three-year term loan facility from the China Development Bank (CDB), in a major step to strengthen Africa-China financial cooperation and support Nigeria’s growing trade and investment ties with Asia’s largest economy.
The facility, signed under the broader strategic partnership between Standard Bank Group (SBG) and CDB, provides Stanbic IBTC with direct access to Renminbi liquidity, positioning the bank to offer more competitive and efficient financing solutions to Nigerian corporates engaged in cross-border trade and infrastructure development.
Chief Executive of Stanbic IBTC Bank, Mr Wole Adeniyi, described the deal as a significant milestone in advancing the bank’s Africa-China strategy, which aims to unlock new growth frontiers, promote bilateral trade, and enhance sustainable development for Nigerian businesses.
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“We are delighted to announce this milestone agreement, which not only strengthens our strategic relationship with the China Development Bank but also enhances our capacity to meet the evolving needs of our clients participating in the Africa-China corridor,” Adeniyi said.
He emphasised that the collaboration would play a vital role in facilitating trade transactions, encouraging foreign direct investment, and improving access to long-term funding for Nigerian institutions.
The loan agreement also reinforces Standard Bank Group’s long-standing partnership with CDB, rooted in a shared commitment to drive inclusive economic growth and connectivity across the continent. Stanbic IBTC is expected to deploy the Renminbi liquidity to support importers, manufacturers, and project developers, particularly those with links to Chinese suppliers and investors.
With China continuing to expand its footprint in African infrastructure and trade, the partnership positions Stanbic IBTC as a key enabler for businesses looking to tap into opportunities within the expanding Africa-China economic corridor.
