• Friday, December 08, 2023
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Access Bank gets IFC’s N11.2bn funds for lending to SMEs


 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.