Access Bank and FMO sign $25 million facility to boost lending
One of the foremost retail banks in Ghana, Access Bank Ghana has entered into another strategic partnership with its long standing financial partner, FMO, the Dutch Development Bank, for a US$ 25 million facility to boost its lending capacity.
A statement from the Bank said the facility which is a conventional senior unsecured loan of seven years, was closed on the sidelines of the Power for Partnership programme held in Amsterdam.
An amount of US$3.5 million out of the facility has been dedicated to supporting women entrepreneurs in Ghana under Access Bank’s flagship and award winning women empowerment initiative – “W”, which was launched in March 2015.
Commenting on the transaction, Ms Linda Broekhuizen, CIO of FMO added, “we are very pleased to strengthen our partnership with Access Bank even further and committing capital specifically towards strengthening the bank’s SME and women banking strategy”.
Photo courtesy of Paul.