Nigeria - Export-oriented SME Financing Program

The intervention is for an Export-oriented SME Financing Program in Nigeria. The Program supplies multi-sector financing to spur job creation in productive sectors so that export-oriented small and medium enterprises (SMEs) can modernize and expand their operations to be more competitive as Nigeria continues its efforts to diversify its economy away from oil and gas. The funds for the Program will be channeled through Nigerian Export-Import Bank (NEXIM) by way of a multi-tranche sovereign guaranteed line of credit (LoC), subject to performance milestones. An integral component of the Program would be a TA package of up to USD 2.2 million out of the proceeds of the LoC for capacity building at NEXIM as well as at client SMEs.