The International Finance Corporation (IFC) says it has provided N3.5 billion risk sharing facility and another $50 million (about N7.7 billion) loan to Access Bank.
The IFC said in a statement in Lagos that the two funds were to enable the bank expand its lending to Small and Medium Enterprises (SMEs).
The statement quoted Solomon Adegbie-Quaynor, the IFC senior country manager for Nigeria, as saying that a quarter of the loans would be used to fund women entrepreneurs.
Adegbie-Quaynor said that the three-year joint initiative was in collaboration with the Coca-Cola group in Eurasia and Africa.
