The African Development Bank has approved a US$50 million line of credit to Nigeria’s Fidelity Bank Plc to support small and medium sized, and women-owned enterprises in selected transformative sectors, including close to a hundred SMEs in manufacturing, health and education. Approved by the Bank’s Board on 10 October 2018, the facility is fully dedicated to financing micro, small and medium sized enterprises (MSMEs), with a minimum of 30 percent going to women-owned enterprises. The loan will enhance Fidelity Bank’s liquidity and help meet the demand for medium-term funding to players in the target sectors, contributing to improved quality of lives, job and wealth creation and tax-revenue generation.
Status
Active
Start Date
2018
Donor
Funding Instrument
Country
Region
Thematic
Unique ID
=A4+1
Amount in USD (in million)
50.39