Leading commercial bank, Access Bank has been granted a $50 million loan facility by the International Finance Corporation, IFC for onward lending to Small to Medium Scale businesses in the country, July 19,2020.
Access is the third Nigerian commercial bank to benefit from IFC’s SMEs financing facility in the past four week period. Others are GTB plc and FCMB which each also got $50 million from the IFC for the same purpose. The bank is expected to lend the funds to SMEs in the country, hit by the negative effects of the covid-19 pandemic and require support to restart their businesses after a government lockdown of the country.
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