IFC Grants $35m Credit to FSDH For SMEs

As per the latest news, FSDH, Nigeria’s Merchant Banking Group has recently been granted a credit facility of $35m in association with the IFC (International Trade Finance)

The above-mentioned funding will be utilized to strengthen access to trade finance instruments for SMEs (Small-and-medium-sized enterprises) in the arising areas of the Nigerian economy.

A declaration highlighted that the facilities are of two folds including 20m Working capital solutions (WCS) and Global Trade Finance Program (GTFP).

It expressed that, “The WCS funding will help FSDH to give loans to local businesses in the country especially those who carry foreign currency receivables. On the other hand, GTFP is a functional trade finance tool that would empower FSDH to help its various trade finance customers as it will enable them to access any beneficiary across the globe.”

Read more: https://www.emeriobanque.com/news/ifc-grants-35-million-dollars-credit-to-fsdh-for-smes