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AfDB signs agreement of $50m with FCMB

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The bank’s Director-General for Nigeria, Lamin Barrow, said the AfDB’s support to FCMB would advance the objectives of the Affirmative Finance

The African Development Bank , has signed an agreement with First City Monument Bank for a 50-million-dollar line of credit.

“With at least 30 per cent of the funding from the Line of Credit to be channelled to women-owned businesses, FCMB will be better positioned to scale up the deployment of its tailored products and services.FCMB’s Managing Director, Yemisi Edun said, “we are happy to collaborate with the AfDB. Edun said that the agreement affirmed the bank’s confidence in FCMB’s growth potential and corporate governance structures.

 

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