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Funding for formerly excluded entrepreneurs in Nigeria by FMO, FCMB and the European Commission

Yesterday, 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.

 

 

 

 

 

Source: BUSINESS INSIDER AFRICA

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