Access Bank Plc has forged an impactful alliance, securing a monumental syndicated Tier II Facility agreement totalling N442.50 billion ($295 million) through the Dutch Entrepreneurial Development Bank, FMO.
In a compelling declaration on Tuesday, Access Bank emphasized that this latest accord marks a profound milestone in their partnership with FMO, transcending mere financial dealings to symbolize a profound bond of trust and collaboration.
Moreover, it has been disclosed that this agreement stands as FMO’s largest syndication ever, underscoring a historic investment achieved through a concerted effort involving a syndicate of esteemed Global Development Finance Institutions. The British International Investment, Belgian Investment Company for Developing Countries, BlueOrchard, FinDev Canada, Finnfund of Finland, Norfund of Norway, Oikocredit, and Swedfund of Sweden.
The ceremonial signing, held at The Hague, Netherlands, was graced by distinguished figures including the Nigerian Ambassador to the Netherlands, Oluremi Oliyide, and representatives of the Dutch government, adding prestige to this momentous occasion.
Roosevelt Ogbonna, the Managing Director of Access Bank Plc, conveyed profound gratitude to FMO for their invaluable support. He passionately reiterated the bank’s unwavering dedication to achieving global acclaim as Africa’s most esteemed financial institution, steadfastly upholding international benchmarks and unwavering accountability standards.
“Putting these funds to use, we aim to catalyse growth across various sectors, stimulate business development, create jobs, and deepen financial inclusion, aligning with Access Bank’s mission to drive progress and development throughout the continent and beyond,” Ogbonna added.
“The CEO of FMO, Michael Jongeneel, conveyed heartfelt appreciation to Access Bank and the syndication partners for their exceptional collaboration and united dedication in bringing the loan facility to fruition.
“The syndicated loan provides significant support to SMEs in Nigeria, particularly underserved segments such as women and young entrepreneurs, aligning perfectly with our shared strategy to enhance financial inclusion and empower local entrepreneurs in the agribusiness and SME sectors,” Jongeneel remarked.
