Dbn shortlists nine banks for msmes loan disbursement

It seems like you're referring to a news article or press release about the Development Bank of Nigeria (DBN) shortlisting nine banks for the disbursement of loans to Micro, Small and Medium-Scale Enterprises (MSMEs).

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The Development Bank of Nigeria (DBN) has shortlisted nine banks to disburse loans to Micro, Small and Medium-Scale Enterprises (MSMEs) in the country. The banks, which include Access Bank, Zenith Bank, First Bank, Guaranty Trust Bank, United Bank for Africa, Stanbic IBTC Bank, Fidelity Bank, Ecobank, and Union Bank, were selected based on their track record of lending to MSMEs and their ability to meet the DBN's lending criteria.

The DBN, which was established in 2017, is a development finance institution that aims to provide long-term financing to MSMEs in Nigeria. The bank has a mandate to provide financing to MSMEs at a single-digit interest rate, which is lower than the commercial lending rate in the country.

The shortlisting of the nine banks is part of the DBN's efforts to increase access to finance for MSMEs in Nigeria. The bank has set a target of disbursing N2 trillion in loans to MSMEs over the next five years, and the shortlisting of the nine banks is a major step towards achieving this goal.

The DBN has also announced that it will provide training and capacity-building programs for the selected banks to ensure that they are equipped to provide high-quality services to MSMEs. The bank has also set up a monitoring and evaluation framework to track the performance of the banks and ensure that they meet the DBN's lending criteria.

Overall, the shortlisting of the nine banks is a significant development in the Nigerian banking sector, and it is expected to increase access to finance for MSMEs in the country.