EmerioBanque

IFC Grants $35m Credit to FSDH For SMEs

As per the latest news, FSDH, Nigeria’s Merchant Banking Group has recently been granted a credit facility of $35m in association with the IFC (International Trade Finance)

The above-mentioned funding will be utilized to strengthen access to trade finance instruments for SMEs (Small-and-medium-sized enterprises) in the arising areas of the Nigerian economy.

A declaration highlighted that the facilities are of two folds including 20m Working capital solutions (WCS) and Global Trade Finance Program (GTFP).

It expressed that, “The WCS funding will help FSDH to give loans to local businesses in the country especially those who carry foreign currency receivables. On the other hand, GTFP is a functional trade finance tool that would empower FSDH to help its various trade finance customers as it will enable them to access any beneficiary across the globe.”

“It will likewise assist to reduce the trade finance gap in Nigeria by ensuring the on-time availability of financial resources to SMEs in the industrial sector. The GTFP will ensure up to 100% of non-payment risks arising from letters of credit & similar trade finance instruments issued by the bank under the guarantee criteria. ”

“This will permit affirmation of trade transactions initiated by FSDH, empowering local import & export businesses. Since the global pandemic, Nigeria keeps on experiencing huge foreign exchange restrictions in the economy, and this arrangement will help to further enhance FX liquidity in the market.”

The Managing Director, of FSDH Merchant Bank, Bukola Smith stated, “We are focused on our main goal of engaging organizations and collaborating with them to make economic progress, the IFC facilities are making us fulfill our goals.”





Other news

Exchange Rates

Currency Buy Sell
EUR USD 1.06 1.10
EUR GBP 0.86 0.89
EUR CHF 1.02 1.06
EUR AUD 1.72 1.70
EUR JPY 116.08 116.56
EUR MYR 4.50 4.77
EUR SGD 1.53 1.57
EUR HKD 8.27 8.53
EUR CAD 1.54 53.84
EUR DKK 9.75 1.55

Most Recent Blogs View All Blogs

22 Nov

How Banks Can Parlay Technology into a Competitive Edge

Technology has become a new basis for banks in order to survive in the competition. Leading banks us...

21 Nov

Trade Credit Finance: The Advantages and Disadvantages

The Trade credit is basically a kind of short-term financing which permits the businesses to purchas...

15 Nov

International Trade Finance Trends: What To Expect In 2023

International trade finance is considered as the dynamic along with an ever-evolving field which als...

Disclaimer

Emerio Banque is an innovative global financial institution incorporated in England and Wales with Legal Entity Identifier 875500DGPPWAFABBK130. Emerio Banque does not offer its products and services to businesses and/or persons registered in the United Kingdom.

No information on this website should be construed as a solicitation, offer, recommendation, and representation of suitability or endorsement of any security, investment or strategy.

Important Notice

Emerio Banque would like to advise its customers to report any suspicions which they may have regarding the identity of any intermediary who promotes products or services offered by us or any intermediary bearing similar names. You should verify with Emerio Banque by calling our Customer Service Number on +44 203 059 7831 or emailing help@emeriobanque.com

Please also be aware of bogus SMS messages and voice message calls or fraudsters who impersonate the staff of Emerio Banque.

We have recently become aware of a number of entities with different names misrepresenting themselves as associates, partners or agents of Emerio Banque.

Please be informed that Emerio Banque is not associated with nor do we have any business connections or dealings with such institutions.

Emerio Banque takes all information regarding suspicious fraudulent activity very seriously. Please immediately inform us at compliance@emeriobanque.com if you suspect or are approached by persons misrepresenting or impersonating Emerio Banque and/or its officials. We will make investigations and will take legal action where necessary.