N700 Billion MSMEs Funding: Development Bank of Nigeria to Support Small Businesses
Saturday 9 March 2024
Comment
In a significant move to boost the Nigerian economy, the Development Bank of Nigeria (DBN) has announced plans to disburse a substantial N700 billion in loans to Micro, Small, and Medium Enterprises (MSMEs). A noteworthy portion of this funding, amounting to N137 billion, is earmarked specifically for businesses led by women.
DBN's Executive Director of Finance and Corporate Services, Ijeoma Ozulumba, shared this information during the International Women's Day celebration in Abuja. She highlighted that half of the loan beneficiaries are women, showcasing the bank's commitment to gender inclusivity in economic development. CONTINUE READING.....
DBN's approach goes beyond financial aid, as it emphasizes tailored training programs for entrepreneurs, focusing on essential aspects like business management, financial record-keeping, and operational efficiency. This holistic strategy aims to empower businesses for long-term success.
DONATE US:👏
Buy your Any Data Subscription For MTN SME-1 @N260/1GB MTN SME-2 @N265/1GB AIRTEL CG @N250/1GB GLO @N235 /1GB 9MOBILE @N140/1GB on Website Bz News 24/7:
Install Our App Now by Click Link Below:
Ozulumba also highlighted the bank's success in minimizing defaults compared to other financial institutions. The training provided to women entrepreneurs plays a significant role in achieving lower default rates, contributing to a robust and sustainable loan portfolio.
Collaboration is a key element of DBN's success, as it actively partners with other financial institutions to ensure widespread availability of funds, especially for women-led businesses. This collaborative approach has garnered positive feedback, with partner banks reporting low non-performing loans and successful recovery. CONTINUE READING.....
In essence, DBN's commitment to disburse N700 billion in loans, with a substantial focus on women-led businesses, underscores its dedication to fostering economic growth. The bank's approach, combining financial aid with targeted training, sets a standard for empowering entrepreneurs and driving sustainable economic development.
Join Our Whatsapp Group
https://www.bzglobalservice.com.ng/p/join-our-groups-whtasapp-now-to-get-any.html
Our WhatsApp Channel
https://whatsapp.com/channel/0029Va4hi718vd1Mifphp11s
Our Facebook Page
https://www.facebook.com/bznews1?mibextid=ZbWKwL
Our Android App
0 Response to "N700 Billion MSMEs Funding: Development Bank of Nigeria to Support Small Businesses"
Post a Comment
Tell us what you think about this article?