SMEDAN begins matching fund programme for agro- based SMES

Tprogramme is a promotionHE Small and Medium al mechanism to enhance Enterprises Development enterprise output, competiAgency of Nigeria tiveness and job creation ( SMEDAN), in partnership and the disbursing entity , with Sterling Bank Plc, has under the program me shall started a matching fund probe Sterling Bank Plc. gramme for agro- based He identified Nano, MSMES Nano, Micro and Small operating in the real sector Enterprises ( NMSES). with value- added agriculturProspective beneficiaries al products as the target are expected to apply for beneficiaries for the profinancing within the range gramme. of N500,000 and N2.5 mil“The interest rate ap plicalion. ble on all financing under This is contained in a statethis programme shall n ment issued yesterday in exceed single digit per Abuja by the Head of annum. Corporate Affairs Division of “The financing tenor is for a the agency , Ibrahim maximum period of 30 Mohammed. months effective from the The statement quoted the date first disbursement. This Director- General of is inclusive of moratorium SMEDAN, Olawale Fasanya, which may var y between as saying the intervention is three to six months dependto deliver credit to the subing on the type of e nter - sector in six selected states of prise,’’ Fasanya said. Anambra, Bayelsa, Delta, He further said that appliEbonyi, Ekiti and Osun. cants or enterprises wishing According to Fasanya, the to apply must be within the agribusiness value chain.