With $75m from IFC, First City Monument Bank increases its cash and targets women-owned SMEs
The Lagos-based bank will receive an investment package from the subsidiary of the World Bank Group to finance, in particular, SMEs, with a focus on women-led projects.
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▪ With $75m from IFC, First City Monument Bank increases its cash and targets women-owned SMEs
▪ The Lagos-based bank will receive an investment package from the subsidiary of the World Bank Group to finance, in particular, SMEs, with a focus on women-led projects.
▪ https://www.africabusinessplus.com/en/803914/avec-75-millions-de-lifc-first-city-monument-bank-renforce-ses-liquidites-et-vise-les-pme-feminines/
More specifically, the bank will receive a seven-year senior loan of $75m with a two-year grace period. About one-quarter of these funds will be allocated to women-owned businesses, while another one-quarter will be made available to projects devoted to fighting climate change.
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