With $75m from IFC, First City Monument Bank increases its cash and targets women-owned SMEs
The Lagos-based bank will receive an investment package from the subsidiary of the World Bank Group to finance, in particular, SMEs, with a focus on women-led projects.
01/04/2020 at 16h38, by Valentin Grille
More specifically, the bank will receive a seven-year senior loan of $75m with a two-year grace period. About one-quarter of these funds will be allocated to women-owned businesses, while another one-quarter will be made available to projects devoted to fighting climate change.