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$8.4m grant for micro finance banks

EXECUTIVE secretary/chief executive officer of the Nigerian Investment Promotion Commission, Alhaji Mustapha Bello, has disclosed that six micro-finance banks in the country will receive about $8.4 million grant this year. Bello who spoke in Kaduna at the Business Development Services fair jointly organised by the World Bank and the Federal Government, said the lifeline was to address the problem of poor access to loan and equity capital confronting micro, small and medium enterprises in Nigeria.

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