Thursday, August 25, 2011

AFDB Okays U.S.$700 Million to Boost SMEs

This Day
25 August 2011

Abuja — African Development Bank (AfDB) has approved the sum of $700 million to support the growth of Small and Medium Enterprises (SMEs) in the country.

Though yet to be signed, the fund would be disbursed to both the Bank of Industry (BOI) and Nigerian Export-Import (NEXIM) Bank in the ratio of $500 million and $200 million respectively for on-lending to SMEs.

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