The Central Bank of Nigeria (CBN) has rolled out Interventions funds for Businesses in Nigeria.
The intervention funds include the below;
N235 BILLION CBN INTERVENTION FUND FOR MANUFACTURING RE-FINANCING AND RESTRUCTURING FACILITIES OF BANKS’ LOANS.
These Guidelines relate to the N235 billion intervention fund for re-financing and restructuring of banks’ loans to the manufacturing sector (The Fund).
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The objectives of the Fund are to:
- Fast-track the development of the manufacturing sector of the Nigerian economy by improving access to credit to manufacturers.
- Improve the financial position of the Deposit Money Banks (DMBs).
- Increase output, generate employment, diversify the revenue base, increase foreign exchange earnings and provide inputs for the industrial sector on a sustainable basis.
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N300 BILLION CBN POWER AND AIRLINE INTERVENTION FUND (PAIF)
The objectives of the Fund are to:
- Fast-track the development of electric power projects, especially in the identified industrial clusters in the country;
- Fast-track the development of the aviation sector of the Nigerian economy by improving the terms of credit to Airlines;
- Improve power supply, generate employment, and enhance the living standard of the citizens through consistent power supply;
- Provide leverage for additional private sector investments in the power and aviation sectors.
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