- IFC partnership aims to provide $1 billion in local currency financing across critical sectors
- CBN sees initiative as a catalyst for economic growth and diversification
Lagos, Nigeria – The International Finance Corporation (IFC), the private-sector financing arm of the World Bank Group, and the Central Bank of Nigeria (CBN) have signed an agreement to expand local currency financing to support the growth of private businesses in Nigeria. The partnership, announced in a joint statement on Monday, aims to provide greater access to Nigerian naira financing in priority sectors, including agriculture, housing, infrastructure, energy, small and medium enterprises, and the creative and youth economy.
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