U.S. International Development Finance Corporation boosts small businesses in Nigeria with $280 million loan to Access Bank

Simon Ateba( Chief White House Correspondent )

Simon Ateba is Chief White House Correspondent for Today News Africa. Simon covers President Joe Biden, Vice President Kamala Harris, the U.S. government, the United Nations, the International Monetary Fund, the World Bank and other financial and international institutions in Washington D.C. and New York City.

The U.S. International Development Finance Corporation (DFC) CEO Scott Nathan on Monday signed a commitment letter for $280 million in financing for Access Bank Plc in Nigeria alongside Access Bank Managing Director Roosevelt Ogbonna. According to the U.S. Mission to Nigeria, the loan will “help address the financing gap for small- and medium-sized enterprises (SMEs) and advance financial inclusion in Nigeria, including through the bank’s commitment to supporting women-owned and -led businesses.”