FCMB gets $35m deal to boost SMEs and renewable energy projects

First City Monument Bank recently signed a $35m funding deal with Proparco, a European development finance institution. The deal also include N5bn EURIZ portfolio guarantee.

According to FCMB, the credit line would be used to fund renewable energy projects and Small and Medium-scale Enterprises affected by the COVID-19 pandemic.

Yemisi Edun, Managing Director of FCMB stated thus:

“Proparco’s financing and risk-sharing interventions align with our purpose, commitment and support to SMEs with high growth potential and the renewable energy sector.

“We are optimistic that this partnership will accelerate the development of industries critical to attaining sustainable and inclusive economic growth in Nigeria”.

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