CBN disburses N41.02b to farmers through Anchor Borrowers Programme

The Central Bank of Nigeria (CBN) disbursed N41.02 billion to farmers through Anchor Borrowers’ Programme (ABP) between September and October this year.

A report released by the apex bank disclosed that under the ABP  the apex bank disbursed N41.02 billion to several agricultural projects, bringing the cumulative disbursement under the Programme to N1.06 trillion to over 4.6 million smallholder farmers cultivating 21 commodities across the country.

The bank also disbursed N0.30 billion to finance large-scale agricultural projects under the Commercial Agriculture Credit Scheme (CACS). Consequently, the total disbursement under the Scheme for agro-production and agro-processing stands at N745.31 billion for 680 projects.

The bank also disbursed the sum of N20.78 billion to nine projects in healthcare, manufacturing, and services. The cumulative disbursement under the Facility therefore, amounted to N114.17 billion in 71 projects. Moreover, the Bank disbursed N4.00 billion under the Intervention Facility for the National Gas Expansion Programme (IFNGEP) to promote the adoption of compressed natural gas (CNG) for transportation and liquefied petroleum gas (LPG) for cooking.

In support of the resilience of the healthcare sector, the Bank also disbursed N5.02 billion to four (4) healthcare projects under the Healthcare Sector Intervention Facility (HSIF), bringing the cumulative disbursement to N135.56 billion for 135 projects in pharmaceuticals (33), hospitals (60) and other services (42).

Also, under the Micro, Small and Medium Enterprises (MSME) sector, the Bank provided support for entrepreneurship development with the disbursement of N1.33 billion and N10.00 million under the Agribusiness/Small and Medium Enterprise Investment Scheme (AgSMEIS) and Micro, Small, and Medium Enterprise Development Fund (MSMEDF), respectively. Hence, the total disbursement under these interventions amounted to N150.22 billion and N96.08 billion, respectively. Under the Export Facilitation Initiative (EFI), the Bank provided support for export-oriented projects to the tune of N5.34 billion, such that the cumulative disbursement under this intervention stands at N44.58 billion.


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