First City Monument Bank (FCMB), has signed a $35 million loan and an Euro portfolio guarantee of N5 billion (EUR 10 million equivalent) deal with Proparco.
Speaking at the signing ceremony , the Managing Director of FCMB, Mrs. Yemisi Edun, said: “Proparco’s financing and risk-sharing interventions align with our purpose, commitment and support to SMEs with high growth potential and the renewable energy sector. We are optimistic that this partnership will accelerate the development of industries critical to attaining sustainable and inclusive economic growth in Nigeria.”
The Country Director of Proparco, Mr. Jean Guyonnet-Duperat, said: “We are excited to partner with FCMB again in our commitment to promote sustainable economic, social and environmental development. Through our collaboration with FCMB and its wide network, we are optimistic about making more impact in facilitating the growth of local economic players to overcome the challenges of the COVID-19 crisis.”
Proparco is the private sector financing arm of Agence Française de Développement Group.
Proparco promotes sustainable economic, social, and environmental development, providing funding and support to businesses and financial institutions in Africa, Asia, Latin America, and the Middle East.