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According to estimates by Asian Development Bank, currently global trade faces a financing gap of $1.
According to the eighteen point communique, Stakeholders agreed that in order to realize the desired accelerated growth of the Nigerian maritime sector, the Ministry and its Agencies should explore alternate financing windows such as the establishment of Maritime Bank to address the financing gap created by the unsuitability of lending rates of Nigerian banks for the shipping business; consider reviving NIMAREX as a platform for bridging the gap between the Nigerian shipping industry and prospective international investors so as to provide impetus for growth and investment.
He added that the gap is the key reason for obtaining funding, whether in the form of cheque factoring, financing of projects by banks, leasing of assets, and other forms of financing to solve the financing gap.
5 billion net financing gap is tantamount to an admission that the current gross official reserves of $14.
5 billion via Eurobond and Sukuk in end-November, which helped shore up the country's diminishing foreign exchange reserves and meet its financing gap on external front.
SBP's current estimates suggest that during FY18 the financing gap is likely to be around $2.
The central bank's estimates suggest that the financing gap is likely to be around $2.
African countries have reasons to be moderately optimistic with regard to bridging the huge existing financing gap, since both globally and for us Europeans the financial crisis and its associated austerity is behind us.
The sale plus anticipated payments from foreign institutions, including the International Monetary Fund and the World Bank "means we have largely succeeded in plugging the financing gap within the FY 2017-18 budget," he told Reuters.
These "persistent financing gaps require further fiscal adjustment" to which the IMF made a priority in 2017 to reduce the USD 800 million financing gap, "by restraining non-priority current spending and looking for scope to raise revenue.
The international community is necessary for bridging the deficit or financing gap," it added.
Thomas Montag, chief operating officer said: 'We believe green bonds will play an important role in closing the financing gap for renewable energy, energy efficiency and other low carbon projects.