cbn

Non-interest loans for farmers and MSMEs

24 Jun 2020 By ummiyusuf

The Central Bank of Nigeria (CBN) is set to establish a policy on non-interest loans which will be integrated in its intervention programmes especially the Anchor Borrowers Programme (ABP) for farmers, and the Targeted Credit Facility for households and Micro, Small and Medium Enterprises (MSMEs) affected by the current pandemic.

The Bank’s Director, Development Finance Department, Yila Yusuf, made these disclosures at a stakeholders’ meeting held in Abuja to review the successes recorded so far under the ABP and the strategies for the 2020 agricultural wet season.

Furthermore, the intervention is expected to create about five million jobs down the agro-commodities value chains stimulate Nigeria’s speedy economic recovery.

So, how can MSMEs, households and farmers gain access to these non-interest loans when it is officially announced by the CBN?

One can begin by applying for the CBN interventions such as the ABP, Targeted Credit Facility, and others, because the the non-interest loans will be integrated with these programs.

To read more about the CBN interventions, visit nmfb.com.ng

CBN introduces intervention scheme and grants for Research and Development in Healthcare

16 Jun 2020 By ummiyusuf

As part of its policy response to the COVID-19 pandemic, the Central Bank of Nigeria has introduced the Healthcare Sector Research and Development Intervention Scheme (HSRDIS) to help strengthen the public healthcare system with innovative financing of research and development (R&D) in new and improved drugs, vaccines and diagnostics of infectious diseases in Nigeria.

The main objective of the scheme is to provide grants for Research and Development in the Healthcare system, whereby researchers and local manufacturers can come up with vaccines, drugs and herbal medicines towards the treatment and prevention of communicable and non-communicable diseases, including the Corona virus.

The Scheme also aims to boost domestic manufacturing of critical drugs and vaccines to ensure their sustainable domestic supply and reduce the bulk manufacturing costs.

The Scheme, which will be funded from the Developmental Component of the Micro, Small and Medium Enterprise Development Fund (MSMEDF), enables access to grant of up to N50 Million for research activities and a maximum of N500 Million for Development/Manufacturing activities.

For detailed guidelines and eligibility to access the scheme, click the link below:

https://www.cbn.gov.ng/Out/2020/CCD/Healthcare%20RnD%20intervention%20guidelines.pdf

X