The African Development Bank (AfDB) is arranging a $230 million trade finance package for Access Bank Plc to support SMEs.
A Project Summary Note from Nairametrics on Wednesday detailed the structure, expected impact, and benefits for Nigeria’s trade ecosystem.
The package includes a $170 million Trade Finance Line of Credit (TFLoC) with a 3.5-year tenure for FX liquidity.
Additionally, a $60 million Transaction Guarantee (TG) with a three-year tenure will ensure risk coverage for trade transactions.
The initiative aligns with Nigeria’s 2020-2024 Country Strategy Paper (CSP) and AfDB’s Ten-Year Strategy (TYS) 2024-2033 economic policies.
The Central Bank of Nigeria (CBN) must approve the finance facility before disbursement, ensuring compliance with financial regulations.
Expected benefits include supporting SMEs, enhancing women-owned businesses, and improving access to essential goods during forex liquidity shortages.
As a Tier 1 bank, Access Bank Plc has operations in Africa, France, the UK, UAE, and China.
