Today, the Dutch Entrepreneurial Development Bank (FMO) and Nigeria’s First City Monument Bank (FCMB) signed a $25 million NASIRA guarantee agreement. The guarantee will enable FCMB to expand its funding to agricultural, youth, and women-owned SMEs without requiring collateral, targeting a client group typically deemed too risky by banks.
Today, the Dutch Entrepreneurial Development Bank and Nigeria’s First City Monument Bank signed a $25 million NASIRA guarantee agreement. The guarantee will enable FCMB to expand its funding to agricultural, youth, and women-owned SMEs without requiring collateral, targeting a client group typically deemed too risky by banks.
Through this TA initiative, FCMB and FMO will select and support 15 scalable early-stage agri-tech businesses in Nigeria. Together, FMO and FCMB will identify 15 disruptive business models that address pressing problems in the agricultural sector, contributing to SDG2: zero hunger and food security. About Nasira Launched in August 2020, NASIRA is a collaborative effort supported by the European Commission and the Dutch government.
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