The Central Bank of Nigeria has announced that it is extending its Agri-Business/Small and Medium Enterprise Investment Scheme loans to 14,638 of the applicants who applied for the loans in August.
In a publication from the lastest MPC report, the CBN stated that “The Agri-Business/Small and Medium Enterprise Investment Scheme intervention has been extended to a total of 14,638 applicants, while 250 SME businesses, predominantly the youths, have benefited from the Creative Industry Financing Initiative.”
According to the apex bank, a total of N3.5 trillion has been disbursed from the bank’s interventions in the wake of the COVID-19 pandemic.
These disbursements were made to various sectors of the economy, including real sector funds of N216.87bn; COVID-19 Targeted Credit Facility of N73.69bn; AGSMEIS of N54.66bn; Pharmaceutical and Health Care Support Fund of N44.47bn); and Creative Industry Financing Initiative of N2.93bn.
The bank said that under the real sector funds, a total of 87 projects, which included 53 manufacturing, 21 agriculture and 13 services projects have been funded.