The Nigerian Export-Import (NEXIM) Bank, on Tuesday, announced a partnership with Afreximbank which it plans to mobilise $50 million Project Preparation Fund for Nigeria to provide technical assistance to bankable SMEs including those promoted by women and youth.
The Bank also launched the Women and Youth Export Development Fund (WAYEF) to increase their participation in the global agro-export market.
The Managing Director/Chief Executive Officer, NEXIM Bank, Abubakar Abba Bello while speaking at the event said the launch of the facility was in “commemoration of the 2021 Women’s Day,” which begins March 8 and celebrated throughout the month.
Bello said: “The bank has provided enormous support for many export-oriented industries that are high employers of women and youth such as cashew, Shea, hibiscus, ginger etc where a lot of women are involved in cleaning and packaging of the products for export.”
He said WAYEF would provide more financial support for women and youth-owned businesses operating in the various aspects of the export value chain under a more dedicated and focused arrangement.
The Minister of Women Affairs, Dame Pauline Tallen, in her remarks at the event, commended the management of the NEXIM Bank for putting together such a facility for the women and youth to benefit.
She said poverty was the deadly disease afflicting women and youth in the country most particularly those in the rural areas.
The minister called on all the female executives in financial institutions and other Nigerians to emulate NEXIM Bank and come up with facilities that will empower women and youth who are the most vulnerable segment of the society, to expand their entrepreneurial skills and businesses.
According to her, the Federal Ministry of Women Affairs in collaboration with the Central Bank of Nigeria (CBN) last year launched a framework for advancing women’s financial inclusion in Nigeria, which aimed at easing the constraints that women face in accessing a broad range of appropriate financial products and services to grow their businesses.
NEXIM announces $50 million partnership with Afreximbank for women, youth others
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