SME's to receive investment boost from United States Chamber of Commerce

UNGA

Mortgage refinancing and Small and Medium Enterprises in Nigeria will receive a boost of approximately $320 million from the United States Chamber of Commerce.

Spokesperson to the Vice-President Kashim Shettima, Mr Stanley Nkwocha revealed this in a statement.

It said the Deputy Chief Executive Officer of the U.S. International Development Finance Corporation, Ms Nisha Biswal declared this while speaking at a US-Nigeria Executive Business Roundtable as part of the ongoing 79th Session of the United Nations.

She said with a portfolio of one billion dollars, the chamber would invest $200 million in mortgage refinancing in Nigeria.

The statement explained that an additional sum of $100 million has been earmarked for FCMB to finance SMEs in Nigeria, with particular interest in women’s empowerment.

According to the statement, the US Chamber of Commerce also announced that $20 million has been approved for a firm, Robust International, for cashew nut processing in Nigeria.

Biswal noted that the American Chamber remains committed to working with Nigerians in developing and pursuing sustainable economic policies.

In a remark, the Vice-President reiterated Nigeria’s commitment to investor-friendly policies.

 

Post a Comment

Previous Post Next Post