The Development Bank of Nigeria (DBN) has shortlisted five commercial banks and four microfinance institutions for the disbursement of interventions to entrepreneurs.
The Managing Director, Mr Tony Okpanachi, told journalists in Abuja on Monday that the DBN would simplify its loan application processes to enable more entrepreneurs in the MSMEs have access to its intervention fund.
The commercial lenders include Wema bank, Ecobank, Sterling bank, Diamond bank and Fidelity bank, while Microcredit, Infinity, Busack And Fortis are identified as the four microfinance banks.
The DBN was established to confront financing difficulties of private sector investments in the country.
It targets provision of long-term funding to about 20,000 MSMEs in the first year of full operation.