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ACCESS BANK PLC NIGERIA WOMEN & YOUTH GUARANTEE

Summary sheet

Release date
24 February 2023
Status
Reference
Approved | 18/11/2022
20200731
Project name
Promoter - financial intermediary
ACCESS BANK PLC NIGERIA WOMEN & YOUTH GUARANTEE
ACCESS BANK PLC
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 7 million
EUR 50 million
Location
Sector(s)
Description
Objectives

This facility provides a partial portfolio guarantee to the financial intermediary Access Bank to finance eligible investments undertaken by small- and medium-sized enterprises (SMEs) in Nigeria. The focus of the facility is on SMEs owned or managed by female or young entrepreneurs as well as start-ups.

The primary objective is to enhance access to finance for SMEs with better terms and conditions, such as reduced collateral requirements and/or lower financing costs. The facility also contributes to alleviate the economic burden due to the COVID-19 outbreak, strengthening the economic resilience and creating job opportunities.

Environmental aspects
Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate. Access Bank PLC is in scope for EIB's Paris Alignment Framework (PATH) which supports counterparties on their pathways to align with the Paris Agreement.

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Milestone
Approved
18 November 2022
Related projects
Parent project
COVID-19 SME ACCESS TO FINANCE INITIATIVE
Link to source
Summary sheet
ACCESS BANK PLC NIGERIA WOMEN & YOUTH GUARANTEE

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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