Page 8 - முதல் நகரம் நினைவுச்சின்னம் வங்கி News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The Board of Directors of the African Development Bank (AfDB) have approved a loan of $50 million to Nigeria’s First City Monument Bank (FCMB) to channel to local enterprises and women-empowered businesses in the agribusiness, manufacturing, healthcare and renewable energy sectors. The disclosure is contained in a public statement titled, ’African Development Bank bolsters women-empowered businesses with $50 million loan to FCMB bank’ issued by the AfDB on Wednesday, July 7, 2021. The statement says that 30% of the funds, which are intended to mitigate the effects of the challenging Covid-19 environment, are earmarked for underserved women-empowered businesses. It also adds that the Bank will provide a technical assistance grant of $200,000 through its Affirmative Finance Action for Women in Africa (AFAWA) initiative supported by the Women Entrepreneurship Finance Initiative. The grant is expected to complement the loan by enabling First City Monument Bank to provide non-

Stefan nalletambyWorld bank groupWomen entrepreneurs finance initiativeBank tenWomen entrepreneurship finance initiativeAfrican development bankSector developmentFirst city monument bankNigeria first city monument bankAffirmative finance actionWomen entrepreneurship financeFinance sector developmentTen year strategyIndustrialize africaFeed africaNigeria country strategy paper