The Development Bank of Nigeria (DBN) has joined the SME Finance Forum, a worldwide network that promotes the growth of Small and Medium Enterprises.
Also, the SME Finance Forum is a gathering of financial organizations, technological firms, and development finance institutions to share knowledge and innovation.
Speaking on the development, the Managing Director/CEO of Development Bank of Nigeria, Tony Okpanachi, said, “We are excited to expand our knowledge of SME financing and believe participation in the SME Finance Forum member working groups will afford us with a plethora of networking and developmental opportunities.”
On his part, the Chief Executive Officer of SME Finance Forum Matthew Gamser noted that “We are proud to have DBN join our network of 140 members who work to expand access to finance for small and medium businesses.
“It has been discovered that 200 million businesses worldwide need financing to invest, grow and create new jobs.
“Founded in 2014, DBN focuses on alleviating financing constraints faced by MSMEs and small corporations in Nigeria through the provision of financing and partial credit guarantees to eligible financial intermediaries, on a market-conforming and fully financially sustainable basis.
“The bank supports inclusive growth and provides wholesale funding to fill identified enterprise financing gaps in the MSME sector.”