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Nairaland Forum / Nairaland / General / Investment / CBN 100 For 100 Intervention Loan (up To N5 Billion) (389 Views)
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CBN 100 For 100 Intervention Loan (up To N5 Billion) by Utbeee: 2:45pm On Nov 14, 2021 |
CBN 100 For 100 Intervention Loan: This initiative is designed to create the flow of finance and investments to enterprises with potential to kickstart a sustainable economic growth trajectory, accelerate structural transformation, promote diversification, and improve productivity. It is a support to private sector companies with the aim of reducing certain imports, increasing non-oil exports and to improve the FX-generating capacity of the economy. CBN 100 For 100 N5bn PPP Loan - In furtherance of its core mandates of delivering price and financial system stability, and promoting sustainable economic development, the 100 for 100 Policy on Production and Productivity (PPP) is introduced by the Central Bank of Nigeria (CBN) to stimulate investments in Nigeria’s manufacturing sector with the core objective of boosting production and productivity, necessary to transform and catalyse the productive base of the economy. Objectives Of The Initiative The broad objective of the initiative is to reverse the nation’s over-reliance on imports, by creating an ecosystem that targets and supports projects with potential to transform and catalyze the productive base of the economy. The specific objectives include: i. catalyse import substitution of targeted commodities ii. increase local production and productivity; iii. increase non-oil exports, and iv. improve foreign exchange earning capacity of the economy Loan Type a. Long-term loan for acquisition of plant and machinery and b. Working Capital Loan Limit Loan Amount Loan amount shall be a maximum of N5 billion per obligor. Any amount above N5 billion shall require the special approval of Management. Activities Covered Focal activities shall be existing businesses and projects (brownfield) with potential to transform and jumpstart the productive base of the economy such as: i. Manufacturing ii. Agriculture and agro-processing iii, Extractive Industries iv. Petro-Chemicals and Renewable Energy v. Healthcare and Pharmaceuticals vi. Logistics Services and Trade-Related Infrastructure vii. Any other activities as may be prescribed How To Apply: See the below (signature) |
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