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The World Bank approved $500 million for Nigeria to expand affordable financing for 250,000 MSMEs, especially women-led and agribusinesses.
The World Bank has approved a $500 million package for Nigeria to expand affordable, longer-term financing for MSMEs, with a focus on women-led businesses and agribusinesses.
The FINCLUDE project, implemented by the Development Bank of Nigeria and Impact Credit Guarantee Limited, aims to provide debt financing to 250,000 MSMEs, including 150,000 women-led firms and 100,000 agribusinesses, while mobilizing $1.89 billion in private capital.
It will offer longer loan terms, AI-powered digital lending tools, and credit guarantees to overcome barriers like high interest rates and strict collateral demands.
The initiative supports Nigeria’s economic growth, job creation, and financial inclusion.
El Banco Mundial aprobó 500 millones de dólares para Nigeria para ampliar el financiamiento asequible para 250.000 MSMEs, especialmente dirigidas por mujeres y agroempresas.