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Access GEM

Sector: Seaport • Location: Nigeria

Source: International Finance Corporation (IFC)

Project
Completed

The project consists of a line of credit of up to $15 million to Access Bank Plc (Access or the bank), one of the leading full-service commercial banks in Nigeria. The project''s main objective is to address the scarcity of term finance in general and to provide assistance to the undeserved sub-sector of women entrepreneurs in Nigeria specifically. The long term funding gap in Nigeria has historic

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The project “Access GEM” is an infrastructure initiative in the Seaport sector, located in Nigeria. Taiyo aggregates data on it from International Finance Corporation (IFC).

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Participants

Sponsoring Agency

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Company

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Status

Original status

completed

Taiyo status

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Taiyo last update

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Available timestamps

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Contact

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Phone

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Email

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Address

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Description

Description

The project consists of a line of credit of up to $15 million to Access Bank Plc (Access or the bank), one of the leading full-service commercial banks in Nigeria. The project''s main objective is to address the scarcity of term finance in general and to provide assistance to the undeserved sub-sector of women entrepreneurs in Nigeria specifically. The long term funding gap in Nigeria has historically forced Nigerian commercial banks to rely on their capital, or take the maturity risk in order to finance longer-term projects. The proposed investment allows IFC to address part of these constraints by making available foreign exchange term resources through an efficient financial institution.

Original sub-sector

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Original Currency

USD

Original budget

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Procurement method

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Budget

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Location

Region

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State

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Location

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Source

Source reliability

High

Data quality score

100%

Source

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URL

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More Details

Project Type

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Article Published Date

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