Bank of Industry Plans €1bn Facility to Support MSMEs

The Bank of Industry has assured its customers in the Micro, Small, and Medium Enterprises segment of the economy of more financing to grow their businesses. <br />The Managing Director/Chief Executive Officer of the bank, Mr. Olukayode Pitan, described the theme as apt, considering the pivotal role SMEs play as the engine room of the global economy. <br />He noted that the bank remained committed to supporting the funding needs of its customers and assured them of sustained intervention with the successful completion of the €1bn guaranteed facility. <br />He explained that the facility, like previous ones, would be utilized to provide the much-needed medium to long-term Nigerian MSMEs and large enterprises with transactions at affordable naira interest rates.