Thursday, November 21, 2024
HomeNewsEcobank creates Nigerian Agricultural Sector Special Loans

Ecobank creates Nigerian Agricultural Sector Special Loans

Nigerian agricultural sector will receive a N84 billion boost in form of special purpose credit.
The credit scheme is created by Ecobank Nigeria Plc. for agri-businesses in the country to access in order to increase their productivity.
 According to Ecobank, the scheme was created in line with the federal government policy and will have significantly impact on the sector within the four-year time period.
Abel Ajala, Ecobank
Abel Ajala, Ecobank country manager
Country Manager, Agriculture and Export Finance, Ecobank Nigeria, Abel Ajala, disclosed this, adding that the bank was in collaboration with the Central Bank of Nigeria (CBN) and the Bank of Industry (BoI) for this scheme.
Ajala said, “apart from the bank’s direct lending to agriculture sector, Ecobank has supported many stakeholders in the sector to obtain BoI’s loans and various CBN-support facilities for agriculture such as Commercial Agricultural Credit Scheme (CACS), Nigeria Incentive – based Risk Sharing for Agricultural Lending (NIRSAL) at a single digit interest rate.
“Ecobank also plans to grow the BOI/CBN funding portfolio in the bank significantly in the next four years,” he added.

Also read:  Securing a Business Loan from Bank (1)
admin | Abbey Oyetunji
admin | Abbey Oyetunji
Abbey Oyetunji is a Business Growth Strategist. An IT Mogul & Web Developer. Reach via mail: [email protected]
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments

Ashaolu sunny Joseph on Where to Get Loan For Small Businesses
Lateef Oluwanishola Olabanjo on Best Personal Loans In Nigeria
Lateef Oluwanishola Olabanjo on Best Personal Loans In Nigeria
Oyelaran olanike funmi on Best Personal Loans In Nigeria
Jimoh Isiaka olanrewaju on Where to Get Loan For Small Businesses
Atolagbe sanjo babatude on Where to Get Loan For Small Businesses
admin | Abbey Oyetunji on How To Get The BIG Money Clients
adebayo on Contact us