June 18, 2020 / 05:44 PM / By CBN / Header Image
Credit: Business AM Live
The Central Bank of Nigeria has unveiled today, via its official twitter handle, plans to release a framework for the integration of non-interest window in all its intervention programmes particularly the Anchor Borrowers' Programme (ABP) and the Targeted Credit Facility (TCF) to support households and Micro, Small and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic.
The CBN stated further that it earmarks N432bn to fund the value chains of nine commodities in the 2020 wet season farming.
CBN committed to aggressively fund its agricultural programmes and spur farmers along select crop value chains to prevent the country from sliding into a recession.
Over 1.1 million farmers, cultivating over one million hectares of farmland, are expected to benefit from the loans that will help to produce a collective output of 8.3 million metric tons.