MSME loan disbursement: CBN disburses loan women

MSME loan disbursement: CBN disburses loan women

The Central Bank of Nigeria (CBN) has disbursed N159.21 billion to 330,128 women under the Targeted Credit Facility (TCF) created to sup

This was stated by the Governor of the Top Bank, Godwin Amefile. He was speaking at the Gender Equality Today for Sustainable Tomorrow event in Abuja.

According to him, the bank has supported women through other intervention funds such as AGSMEIS, MSMEDF and other schemes, not only issued gender-related rules that pave the way for gender diversity and inclusion in higher levels of bank governance.

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Emefiele noted that the Supreme Bank it oversees has demonstrated its commitment to diversity and inclusion through the development and implementation of a variety of initiatives, programs and interventions to promote entrepreneurship, reduce poverty, create employment and increase women’s financial inclusion.

He said: “Women have benefited greatly from bank intervention programs such as the Agribusiness Small and Medium Enterprise Investment Scheme (AGSMEIS) and COVID-19 TCF.

“Specifically, of the 37,273 AGSMEIS beneficiaries paid € 134.67 billion. N, 2022 month of January. 33% (44.1 billion N) went to 12,511 female beneficiaries. Similarly, of the N349.51 billion. 712 442 of all TCF beneficiaries were disbursed, 45%, ie EUR 159.21 billion. N, went to 330,128 female beneficiaries.

The SME Development Fund (MSMEDF) has been set up to provide at least 60% of the fund to women and women-owned enterprises, of which 60.3% of the 229,579 beneficiaries are women. In addition, of the 211,306 financial statements currently registered in the collateral register, 92,091, or 43.6%, were female debtors.