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Proparco and the European Union (EU) are supporting a major Nigerian bank, First City Monument Bank Ltd (FCMB), through the financing of a €325,000 technical assistance (TA) program. This TA program will enable the bank to develop its non-financial services offer, aimed at improving the financial inclusion of local Very Small and Medium Enterprises (VSEs) and women entrepreneurs, and to support them in their entrepreneurial process.

At the end of 2021, Proparco granted a line of credit and a EURIZ portfolio guarantee to the Nigerian bank First City Monument Bank Ltd (FCMB) to support its high-impact SME and climate finance strategy. Proparco, with the support of the European Union (EU), is continuing its partnership with FCMB through the financing (amounting to 325,000 euros) of a technical assistance (TA) program to support the bank in its training and capacity building activities for SMEs operating in high-impact sectors (agriculture, renewable energies, digital), which often face difficulties in accessing financing.


Strengthen its digital offer of non-financial services

In order to better reach and support these businesses, FCMB wishes to strengthen its digital offer of non-financial services for the benefit of SMEs, and in particular those owned or managed by women, by expanding its existing digital training offer. The technical support should therefore enable the bank to complete and improve its offer on its Business Zone training platform, to organize digital seminars/forums and to further develop its SheVentures program which offers dedicated financing solutions and mentoring for women entrepreneurs.


Mélody Sang, Head of the Technical Assistance and Blending Division:

“Proparco is pleased to continue supporting FCMB, a long-standing partner and leading bank in the financing of Nigerian SMEs. This technical assistance project, which is part of the EURIZ program supported by the European Union and the African, Caribbean and Pacific Group of States (OACPS), allows the bank to develop complementary services that enable SMEs and women entrepreneurs to access financing and structure their business model.”