In line with its long-term commitment of growing micro, small and medium scale enterprises (MSMEs), Guaranty Trust Bank Plc (GTBank) has announced that it is collaborating with the Development Bank of Nigeria (DBN) to disburse N25 billion funding to businesses.
The funding is the single largest disbursement by the DBN to any financial institution in Nigeria since it commenced operations, according to a statement.
In 2018, the DBN disbursed a total of N31.364 billion to 35,000 end borrowers through participating financial institutions (PFIs).
This is expected to grow significantly following the N25 billion funding partnership with GTBank, due to the bank’s focus on creating greater access to credit for small businesses.
Commenting on the partnership with the Development Bank of Nigeria, the Managing Director and CEO, Guaranty Trust Bank Plc., Segun Agbaje, was quoted to have said: “Empowering MSMEs is key to accelerating Nigeria’s…