The sources include deposit money banks, development financiers, private equity investment firms, and other financial institutions.“This is in carrying out our mandate of creating a stronger linkage between segments of Nigeria’s agricultural value chain and subsequent AVC-linkage to commercial bank finance,” he said.
“This feat, which has made a notable contribution to the Federal Government’s Agric promotion drive, was achieved through NIRSAL Plc effective deployment of its Credit Risk Guarantee instrument.”Abdulhameed further said the NIRSAL CRG is a core product of the agency used to share agribusiness-related credit risks with commercial banks and financiers by up to 75 percent.
“By protecting financiers and investors from possible losses in a credit transaction, NIRSAL Plc has built up their confidence to lend to players in the Agric sector, a sector once widely considered as a no-go area in finance circles,” he added. “To provide further support to Nigeria’s farmers and agribusinesses, NIRSAL Plc, through its Interest Drawback scheme, goes the extra mile to reward diligent borrower behaviour through discretionary rebates of up to 40 percent of interest paid on NIRSAL CRG-backed agribusiness loans.
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