UAE lenders are stepping up cross-border activity, with First Abu Dhabi Bank (FAB) and Abu Dhabi Commercial Bank (ADCB) extending large-ticket financing into Africa and Central Asia.

#1- FAB doubles down on Africa: FAB underwrote a USD 1.1 bn loan from the UAE to Nigeria to help finance the Lagos-Calabar Coastal Highway — one of the country’s largest infrastructure projects, according to a statement from Nigeria’s presidency.

Not just a road: The Lagos-Calabar project is a planned 700-km, c. USD 13 bn Atlantic corridor linking Lagos to the oil-rich Niger Delta, Bloomberg previously reported. Built in phases under a public-private model, it’s a wager on logistics, trade, and coastal real estate. Nigeria is stacking financing tranche by tranche, including a USD 747 mn facility in July for an earlier section.

What we know: FAB is carrying USD 626 mn of the new facility for Phase 1, Section 2 of the highway, covering a 55.7-km stretch linking Lekki to Ode-Omi. Afreximbank underwrote the loan with FAB, providing the remaining USD 500 mn; the funding comes with partial risk cover from the Islamic Corporation for the Ins. of Investment and Export Credit.

Why it matters: The agreement underscores Abu Dhabi’s growing role in underwriting African infrastructure. As we reported last week, UAE capital is backing a USD 300 mn water-supply project in Mauritania via the Abu Dhabi Fund for Development.

#2- ADCB moves into Central Asia: ADCB extended a USD 300 mn, 18-month loan to Uztransgaz, Uzbekistan’s state gas transporter, UzDaily reports. The facility carries an interest rate of 3.1% plus SOFR, with a six-month extension option — though no details were disclosed on the specific use of proceeds.

UAE lenders are already active in Uzbekistan, with Mashreq having arranged a USD 88 mn syndicated loan for state-owned Agrobank last year.

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