Dutch Entrepreneurial Development Bank (FMO), in collaboration with the European Union (EU), has signed a 25 million-dollar Nasira Guarantee
The Dutch Entrepreneurial Development Bank , in collaboration with the European Union , has signed a 25 million-dollar Nasira Guarantee Agreement with First City Monument Bank to boost funding for excluded entrepreneurs in Nigeria.
“We are very happy to see that the EU investment instruments, such as the European Fund for Sustainable Development guarantees, have come to Nigeria . “Often, the FMO guarantee that effectively replaces the collateral is not fully utilised, demonstrating that these entrepreneurs, primarily women and young people, are not riskier than others. Job creation in Nigeria, home to 220 million people and the largest population in Africa, is critical. The country faces severe economic challenges, including high unemployment rates.
She said that the loan is dedicated to growing the existing FCMB loan portfolio of small and medium-sized entrepreneurs .Residents demand probe over expired products in Port Harcourt supermarkets In a related development, the European Union and Eurocham Nigeria signed a 300,000 Euro grant agreement to support further development of the Chamber.
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