Nigeria - ABN Microfinance Bank Nigeria (ABN) - TA

This project consists of technical support from ABN Microfinance Bank Nigeria (ABN) established as a Greenfield microfinance bank to provide financial services to the low-income population of Nigeria. ABN is positioned itself as a full service bank focused on micro, small, and medium-size clients. The project fits well within the Bank’s private sector strategy of strengthening local financial markets in Africa and promoting alternative financial instruments to facilitate credit to the underserved segment of the population in Nigeria. The purpose of the TA is to assist the recipient (ABN) in financing its management and build up activities. The total cost of the capacity building program including a six-month pre-operational phase and a three-year start-up phase is estimated at Euros 3.9 million. The Bank’s TA contribution of Euro 0.7 million which will mainly focus on : (i) training of ABN bank staff (ii) management information systems and (iii) credit risk management.