Connect with us

BANKING

Access Bank secures $50m IFC loan to boost SMEs’ recovery

Published

on

Access Bank secures $50m IFC loan to boost SMEs’ recovery – Access Bank is committed to helping Small and Medium Enterprises (SMEs) recover from the impact of the COVID-19 pandemic, its Group Managing Director Herbert Wigwe has said.

He spoke after the bank secured $50 million loan from the International Finance Corporation (IFC).

The funds, he said, would “help Access Bank Plc increase its liquidity to several Nigerian small and medium-sized enterprises (SMEs) in navigating the economic challenges of COVID-19”.

“In Nigeria, SMEs contribute over 45 per cent of national Gross Domestic Product, account for about 96 per cent of businesses and 84 per cent of employment.

Read also: How to apply for CBN collateral free loan for small businesses

‘’Access Bank, therefore, recognises the importance of SMEs to economic stability and is going the extra mile to ensure that such businesses are adequately financed to weather these testing times. IFC’s funding will not only enable us to extend financial relief to our clients across all sectors during the pandemic but beyond the COVID-19 crisis as well. Our partnership with IFC will help Nigerian businesses weather COVID-19 and set a course for recovery,” he added.

The funds from the loan, made through IFC’s global COVID-19 ‘Fast-track Financing Support Package’ will enable Access Bank to provide increased trade financing and working capital lending to its business clients experiencing disrupted cash flows, supporting businesses and preserving jobs.

IFC Country Manager for Nigeria,  Eme Essien Lore, said: “It is crucial to support smaller businesses to keep the wheels of Nigeria’s economy turning during  unprecedented economic challenge.

She is a prolific writer and has special interest on writing about business and opportunities. She can be contacted via [email protected]

Continue Reading
Advertisement
1 Comment

1 Comment

  1. Goodluck Timothy

    August 21, 2020 at 11:06 PM

    GOOD DAY SIR/MA

    HAVE YOU HELD ABOUT RICH CONNECT TRUST INVESTMENT…?

    RICH CONNECT TRUST INVESTMENT is a matrix system which give you DOUBLE of your CAPITAL back in ( 45 Minutes ) after Registrations

    RICH CONNECT PACKAGES
    N20,000——N40,000
    N40,000——N80,000
    N50,000——N100,000
    N100,000—–N200,000
    N150,000—–N350,000
    N300,000—–N600,000
    N200,000—–N400,000
    N400,000—–N800,000
    N500,000—–N1,000,000

    NOTE: we credit your account after 45mins of Your Registeration
    INTRODUCTION
    RICH CONNECT TRUST Investment is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Okafor Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

    07046246360

    ITS SIMPLE HERE!!!!!!!
    We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 100k within 45mins we make profit of 300k then send 200k to you then profit 100k This is not mmm where they merge people to donate for each other
    You pay directly to us and we credit you directly

    Contact Mr. GOODLUCK TIMOTHY
    07046246360

    NOTE:- YOU GET CREDITED BACK IN LESS THAN 45 MINUTES.

    CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING

    NOTE: You can finish reading this and decide not to take the necessary actions, but the next time you want to complain about not having money, just know that you are on your own problem…

Leave a Reply

Your email address will not be published. Required fields are marked *