FG seals $1.3bn SMEs deal with World Bank, others

The Federal Government over the weekend reached an agreement with the World Bank Group and other development partners for the release of about $1.3billion for the funding of Small and Medium Enterprises (SMEs) with the planned takeoff of the Development Bank of Nigeria (DBN).

Nigeria’s Finance Minister, Mrs Kemi Adeosun, broke this news at a post event press briefing in Washington DC, USA, and stated that upon commencement, DBN would serve as a conduit for government intervention in SMEs and medium sized enterprises as part of efforts to achieve inclusive growth.

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