MSME: Partnering Financial Institution To Access Development Bank Of Nigeria Loan

The Development Bank of Nigeria was conceived by the FGN in collaboration with global development partners as a wholesale bank to support MSMEs in Nigeria. In 2017, the Development Bank of Nigeria was licensed by the Central Bank of Nigeria.

The Development Bank of Nigeria disburses loans through Partnering Financial Institutions. DBN recently completed its initial onboarding process with three National Microfinance Banks enabling them reach more MSMEs across the nation. You can access the DBN loan through any of these PFls listed below:

• LAPO Micro Finance Bank Limited- www.lapo-nigeria.org
• NPF Micro Finance Bank Limited- www.npfmicrofinancebank.com

On October 30, 2017, DBN made available a total of N5 Billion to these Micro Finance Institutions (MFIs) for on-Iending to over 20,000 MSMEs across the nation. This year, the Development Bank of
Nigeria has 59 Billion to disburse to 200,000 MSMEs through its Partnering Financial Institutions (PFls)

There are also plans to on-board two more MFls in the pipeline, namely Infiniti MFB Ltd and Microcred MFB Ltd.

For more info visit www.devbankng.com to learn more about the list of the PFls that MSMEs can access DBN loans through.

#MSME #DBN #Loan