The Credit Support to MSMEs and Priority Sector will provide affordable finance to key sectors impacted by the pandemic and enable an increase in manufacturing capacity in priority sectors.

9.75% of the Grant Component of the Fund will be rewards aimed at institutions that shows good loan repayment attitude to help them get more capacity for increased outreach.

Qualification requirements for PFIs will be centered on their achievement in poverty mitigation, job innovation and
financial inclusion.

For institutions to have an advantage, they will have to submit detailed projects and give counterpart financing which will be corresponding to the Funds grant support.

An institution will be beneficiaries of the grant once in three years till it reaches about a maximum of 25% of the project expense and subject to the diplomacy of the CBN.

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