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Nigeria: Access Bank, FMO Sign US $30 Million Facility to Support SMEs

Nigeria: Access Bank, FMO Sign US $30 Million Facility to Support SMEs

In furtherance of its commitment to women empowerment and the creation of a Women Empowerment Fund (WEF), Access Bank and Netherlands Development Finance Company (FMO) have agreed on a $30 million or N4.8 billion facility for on lending to women in the Small and Medium Enterprises (SMEs) in Nigeria. The line of credit will provide financial resources to women owned small and medium scale enterprises in Nigeria. The facility will also be utilised in providing capacity building, debt capital support to women owned businesses, and promote the bank's financial goal of reaching the unbanked through provision of cheap funding.

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