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    Reference: 20220525
    Release date: 8 February 2023

    Promoter – Financial Intermediary

    ACCESS BANK PLC

    Location

    Description

    This EIB financing to Access Bank Plc aims to enhance access to loan finance to private sector entities in Nigeria, mostly small and medium sized enterprises (SMEs) and Midcaps, with a particular focus on those owned or managed by women.

    Objectives

    The EIB loan will be entirely used to finance eligible investments made by SMEs and Midcaps in sectors such as transport, agriculture value-chain, manufacturing, tourism and services. A minimum of 30% of the loan amount will be targeting businesses owned, run, employing or primarily serving women to promote gender inclusion and women empowerment in businesses, in line with the 2X Challenge criteria.

    Sector(s)

    Under Global Europe NDICI guarantee

    Under EFSD+ Guarantee

    Proposed EIB finance (Approximate amount)

    EUR 50 million

    Total cost (Approximate amount)

    not applicable

    Environmental aspects

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

    Procurement

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

    Status

    Signed - 7/09/2023

    Milestone
    Under appraisal
    Approved
    Signed
    18 November 2022
    7 September 2023

    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).

    Related tags

    Nigeria Credit lines