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SME Financing: DBN Joins SME Finance Forum

The Development Bank of Nigeria (DBN) has joined SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of Small and Medium Enterprises (SMEs).

 

The SME Finance Forum was established by G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge centre for data, research and best practice in promoting SME finance, and is managed by the International Finance Corporation (IFC).

Expressing delight at DBN joining the Forum, Managing Director/CEO of Development Bank of Nigeria, Mr Tony Okpanachi, said, “We are excited to expand our knowledge of SME financing and believe participation in the SME Finance Forum member working groups will afford us with a plethora of networking and developmental opportunities.

DBN is a wholesale Development Finance Institution (DFI) established by the federal government in collaboration with global development partners to address the major financing challenges facing Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria.

Also read:  The Challenges, The way forward for SMEs

Accepting DBN into the Forum, Chief Executive Officer of SME Finance Forum, Mr Matthew Gamser said: “We are proud to have DBN join our network of 140 members who work to expand access to finance for small and medium businesses. It has been discovered that 200 million businesses worldwide need financing to invest, grow and create new jobs”.

Founded in 2014, DBN focuses on alleviating financing constraints faced by MSMEs and small corporations in Nigeria through the provision of financing and partial credit guarantees to eligible financial intermediaries, on a market-conforming and fully financially sustainable basis. The bank supports inclusive growth and provides wholesale funding to fill identified enterprise financing gaps in the MSME sector.”

Also read:  𝐏𝐫𝐞𝐬𝐬 𝐑𝐞𝐥𝐞𝐚𝐬𝐞: 𝐋𝐚𝐠𝐨𝐬 𝐒𝐭𝐚𝐭𝐞 𝐌𝐢𝐧𝐢𝐬𝐭𝐫𝐲 𝐨𝐟 𝐓𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭𝐚𝐭𝐢𝐨𝐧 𝐈𝐧𝐬𝐩𝐞𝐜𝐭𝐬 𝐂𝐍𝐆 𝐕𝐞𝐡𝐢𝐜𝐥𝐞𝐬 𝐟𝐨𝐫 𝐊𝐨𝐫𝐨𝐑𝐘𝐃𝐄 𝐄-𝐇𝐚𝐢𝐥𝐢𝐧𝐠 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦

admin | Abbey Oyetunji
admin | Abbey Oyetunji
Abbey Oyetunji is a Business Growth Strategist. An IT Mogul & Web Developer. Reach via mail: [email protected]
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