First City Monument Bank in its effort to support initiatives that ensure environmental protection and sustainability has approved N3 billion loan to the Association of Waste Managers of Nigeria (AWAMN) in Lagos State.
The aim of the credit facility is to boost the working capital of Private Sector Participants (PSPs) in waste collection, aggregation, and recycling. The loan will enable them buy modern equipment such as trucks and up-skill their human resources for smooth and efficient waste management.
The Managing Director of FCMB, Mrs. Yemisi Edun, said the bank was excited to provide loans to AWAMN members, with the support of LAWMA, to upscale their operations to safeguard the Lagos environment. She commended LAWMA for striving to maintain the city’s sanitation standards to prevent the outbreak of diseases.
According to the Regional Head, Lagos, FCMB, Adelaja Adeleye, “Efficient waste management requires capital intensive equipment without which AWAMN cannot perform optimally. As a financial solutions provider of choice, we are bridging the financing gap in the waste management ecosystem in Lagos with this N3 billion intervention fund. We are optimistic that it will improve the city’s waste management process, starting from collection, transportation and treatment to disposal.”