DOMESTIC-ORIENTED SME FINANCING PROGRAM


Overview

  • Reference: P-NG-HAA-002
  • Approval date: 26/05/2011
  • Start date: 05/08/2015
  • Appraisal Date: 28/03/2011
  • Status: OngoingOnGo
  • Implementing Agency: BANK OF INDUSTRY LIMITED (BOI)
  • Location: NIGERIA

Description

The proposed Program will supply multi-sector financing to spur job creation in productive sectors so that domestic-oriented small and medium enterprises (SMEs) can modernize and expand their operations to be more competitive as Nigeria continues its efforts to diversify its economy away from oil and gas. The funds for the Program will be channeled through Bank of Industry Limited (BOI) by way of a multi-tranche sovereign guaranteed line of credit (LoC), subject to performance milestones. An integral component of the Program would be a TA package of up to USD 2.7 million out of the proceeds of the LoC for capacity building at BOI as well as at client SMEs. A similar Program is proposed for export-oriented SMEs in Nigeria.


Key contacts

ANSAH Dennis - OPSD4


Costs

Finance source Amount
ADBUSD 71,235,219
DeltaUSD 283,854,781
TotalUSD 355,090,000