L
LequteMan
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All is now set for the take off of the Development Bank of Nigeria, DBN, the Presidency on Tuesday said.
The DBN is expected to increase access to finance for MSMEs through eligible financial intermediaries. The DBN will make fund accessible to development banks who will in turn provide loans to MSMEs at low interest rates.
The DBN will commence operations with $1.3bn, which will be provided by the World Bank, German Development Bank, the African Development Bank, the French Development Agency.
Also, the Ministry of Finance has assembled a Board of Directors & Management Team for the Development Bank of Nigeria (DBN). Names are expected to be announced soon.
The DBN is expected to increase access to finance for MSMEs through eligible financial intermediaries. The DBN will make fund accessible to development banks who will in turn provide loans to MSMEs at low interest rates.
The DBN will commence operations with $1.3bn, which will be provided by the World Bank, German Development Bank, the African Development Bank, the French Development Agency.
Also, the Ministry of Finance has assembled a Board of Directors & Management Team for the Development Bank of Nigeria (DBN). Names are expected to be announced soon.
