Nigeria - Access Bank PLC


Project Summary

Approval Date 15 May 2014
Signature Date 01 Aug 2014
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 73,081,251.74
Status Implementation

Project General Description

This project aims to extend a line of credit (LOC) of USD 100 million to Access Bank PLC of Nigeria, for on-lending to small and medium-sized enterprises (SMEs) in various sectors of the Nigerian economy. The LOC will allow Access to secure much needed long-term funding to generate additional lending to its clients. The project complements the efforts of the Government to support the development of the SME sector. It also complements the efforts of the Government as well as other DFIs (notably the World Bank and the IFC) who are all looking at opportunities to SMEs in Nigeria through local banks.

Project Objectives

The project will contribute to mobilizing much needed financial resources for enterprises in Nigeria, ultimately enhancing and diversifying productive capacity in the country and stimulating growth in various sectors of the economy. This will increase economic output, improve the country’s competitiveness, generate government and export revenues and create employment opportunities.

Beneficiaries

The direct beneficiaries of the intervention are Access Bank Plc of Nigeria, the Federal Government of Nigeria, as well as small and medium-sized enterprises (SMEs).

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-NG-HAB-019
Last Update 31 Oct 2019

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Contact Details

Email private-sector@afdb.org

Geographic Location

Country Nigeria