FSDH, IFC to Boost Businesses with $33m Facility

The International Finance Corporation (IFC), has approved a credit facility totalling $35 million in partnership with FSDH Merchant Bank to be used to improve access to finance for medium-scale businesses in the emerging sectors of the Nigerian economy.

The facilities are of two folds; $20 million Working Capital Solutions (WCS) and the Global Trade Finance Program (GTFP).

In a statement, the Managing Director, FSDH Merchant Bank, Bukola Smith said: “We are committed to our mission of empowering businesses and partnering with them to achieve sustainable success, the IFC facility brings us closer to the actualisation of that mission. It avails us of the right capital from a reputable partner at such a crucial time.

“Also, partnering with a credible, leading global funder like IFC is a boost for our credibility and viability as an institution. We are well positioned and on course to reach various segments in the emerging economy through our different interventions in growing sectors like health, agriculture, technology, renewable energy and the female economy. Our commitment is to the success of our clients, partners and ultimately, the growth of the economy at scale; we will not relent.’’

“This partnership reflects IFC’s strategy to engage the private sector as a way to end extreme poverty, promote economic growth, and boost shared prosperity in emerging markets and developing countries, “she said.