Nigeria - Wema Bank Plc

This Project is for a 7 years multi-sector Line of Credit (LOC) of up to USD 15 million to Wema Bank PLC. The facility will be availed in Nigerian Naira (NGN). The objective of the LOC is to help Wema grow its Small and Medium Enterprises (SMEs) portfolio in various sectors in the Nigerian economy. It will support various SMEs in transformative sectors such as, agricultural, agri-business, construction, manufacturing and educational sectors in Nigeria as well as women- and youth-owned enterprises and agricultural transactions. Notably the facility will also contribute towards positive gender and social effects and inclusive growth which will arise from the support to women- and youth-owned enterprises. At the company level, one of the objectives of the project is to enhance Wema’s capacity as a key player in the retail banking sector in Nigeria. The other is to strengthen Wema Bank’s, a fully owned indigenous institution, position as a transformed financial institution that has survived various cycles of the Nigerian economy.