Promoting financial inclusion in Nigeria with FCMB
Nigeria
Proparco has renewed its partnership with the bank FCMB to continue to support the local private sector.
Client presentation
First City Monument Bank (FCMB) was set up in 1982 and currently ranks among Nigeria’s top ten banks. As part of its growth strategy, FCMB aims to further support SMEs, through products and services tailored to entrepreneurs.
Project description
Proparco’s support will allow FCMB, a longstanding partner, to extend its financing to more SMEs in Nigeria and thereby foster financial inclusion.
Project impact
This risk-sharing agreement will support some 245 SMEs in the country and will help create or maintain over 440 jobs.
This information is given at the time of signature, without prejudice to any developments in the operation/project
03/12/2020
Date of signature of the project
Sectors
Nigeria
Location
Financing tool
4 792 749
Euros
Amount of funding
NGN 2bn guarantee
FCMB
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News
SignatureProparco and First City Monument Bank work together to support MSMEs in Nigeria
Published on 12 March 2020 -
on the same region
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on the same topic
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on the same financial tool
