{"id":37427,"date":"2021-05-24T08:52:24","date_gmt":"2021-05-24T07:52:24","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=37427"},"modified":"2021-05-24T08:52:24","modified_gmt":"2021-05-24T07:52:24","slug":"finance-msmes-at-low-interest-rates-fg-tells-banks","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/05\/24\/finance-msmes-at-low-interest-rates-fg-tells-banks\/","title":{"rendered":"Finance MSMEs at low interest rates, FG tells banks"},"content":{"rendered":"<p>The federal government has called on banks and other financial institutions to grant accessible financing to micro, small and medium enterprises (MSMEs) at single-digit interest rates.<\/p>\n<p>This call was made by the minister for industry, trade and investment, Mariam Katagum in her\u00a0goodwill message during a virtual Ecobank MSME and financial inclusion summit over the weekend.<\/p>\n<p>Speaking on the theme \u2018Unlocking Credit Growth in a Changing MSME Lending Landscape\u2019, Katagum said the present administration is strategically repositioning the enterprises to achieve their full potentials.<\/p>\n<p>\u201cAs partners in progress, I charge Ecobank PLC and the financial sector as a whole, to continue to provide the much-needed support for federal government initiatives by facilitating and granting accessible financing for the MSME sub-sector, at single digit. I repeat, at single digit!\u201d she said.<\/p>\n<p>\u201cThere is no doubt that micro, small and medium enterprises are regarded as the driving force behind structural changes and sustainable economic growth and development, particularly with respect to their contributions to job and wealth creation.<\/p>\n<p>\u201cThese enterprises play a big role in the <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/05\/16\/buhari-speaks-with-turkish-president-seeks-more-support-for-nigerias-economy\/\">economy<\/a> and are crucial drivers of innovation and competition in many sectors of the economy.<\/p>\n<p>\u201cUndoubtedly, the financial sector plays a critical role in the development of these MSMEs, by providing credit facilities for start-ups and for business expansion.<\/p>\n<p>\u201cUnder the MSME survival fund and the guaranteed off-take schemes, government earmarked N75 billion for the revival and sustainability of MSMEs which have been severely affected by the COVID-19 pandemic.<\/p>\n<p>\u201cThese schemes had, in the last few months, injected a large quantum of funds into the hands of the operators of MSMEs, their businesses and invariably reflated the economy.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The federal government has called on banks and other financial institutions to grant accessible financing to micro, small and medium enterprises (MSMEs) at single-digit interest rates. This call was made by the minister for industry, trade and investment, Mariam Katagum in her\u00a0goodwill message during a virtual Ecobank MSME and financial inclusion summit over the weekend. [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":37428,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[2602,3258,2133,9047,9048],"class_list":["post-37427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-banks","tag-covid-19-pandemic","tag-federal-government","tag-mariam-katagum","tag-msmes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Finance MSMEs at low interest rates, FG tells banks<\/title>\n<meta name=\"description\" content=\"The federal government has called on banks and other financial institutions to grant accessible financing to 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