USAID Partners with FCMB to Enhance Healthcare Financing in Nigeria with $10 Million Loan Facility



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Melissa Jones, the Mission Director of the U.S. Agency for International Development (USAID), reaffirmed the United States government’s commitment to bolstering Nigeria’s health sector and private sector resilience through a new partnership agreement. The ceremony took place at the First City Monument Bank (FCMB) Headquarters in Lagos, Nigeria.

Under the terms of the agreement, USAID and the United States International Development Finance Corporation (DFC) will collaborate with FCMB to facilitate $10 million in new loans. This collaboration aims to expand access to finance for underserved borrowers and micro, small, and medium-sized enterprises (MSMEs) in the health sector across Nigeria.

Mrs. Yemisi Edun, the Managing Director of FCMB, welcomed the opportunity to collaborate with healthcare providers and SMEs nationwide to promote a healthier and more productive future for Nigeria. She highlighted the significance of the partnership in bridging the gap in healthcare financing and ensuring improved access to quality healthcare facilities.

Melissa Jones emphasized the U.S. government’s commitment to working with the financial sector to enhance access to credit for underserved borrowers, including micro, small, and medium enterprises in the health sector. She highlighted the intention to disburse loans to the agriculture and renewable energy sectors through existing partnerships with FCMB.

The partnership aims to support businesses in various healthcare areas, including hospitals, clinics, diagnostic centers, pharmacies, and maternal health facilities. Additionally, it will provide financial assistance to SMEs for working capital, equipment procurement, construction, and restructuring of commercial properties.

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Godwin Okafor
Godwin Okafor
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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