MIC-Grant to support Bank of Agriculture

The Bank of Agriculture says it has secured US$1.118 million grant from the African Development Bank (AfDB) for its capacity building and institutional strengthening projects. The grant would be used to finance programmes that would lead to the expansion of the bank’s target clientele, which is currently small due to low institutional capacity. The grant is being provided through the AfDB’s Middle Income Countries Technical Assistance Fund (MIC-TAF) to strengthen the BOA. “The grant is to support BoA in its restructuring phase, in order to provide improved financial services to Nigerian farmers, especially the small, medium and commercial farmers.