11

Jan

CBN Suspends New Loan Applications Under the Development Finance Intervention

According to a memo issued by Access Bank Plc to its customers on Monday, the Central Bank of Nigeria (CBN) has halted new loan applications under the CBN development finance intervention funds programme. Among the existing development finance intervention funds programs of the CBN are the Real Sector Support Fund (RSSF), Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Accelerated Agricultural Development Scheme (AADS), Anchor Borrowers Program (ABP), and Agri-Business/SME Investment Scheme (AGSMEIS). Access Bank issued the following statement on Monday, in addition to announcing the program’s suspension: All prevailing CBN development finance intervention funds, which bear approved interest[…]

25

Sep

World Bank Approves Fresh $700m Loan For Nigeria

The World Bank has approved a new $700 million loan for Nigeria to improve the education and empowerment of adolescent girls, according to a statement published on its website on Friday. The new loan will provide additional funding for the Adolescent Girls Initiative for Learning and Empowerment, which is an ongoing initiative.The statement read, “The World Bank has approved an additional $700 million for Nigeria to expand the Adolescent Girls Initiative for Learning and Empowerment programme, whose objective is to increase secondary education opportunities for girls in targeted states.”The additional funding will expand project activities from the current seven states[…]