CBN Making Progress In SMEs, Healthcare Intervention Fund Disbursement

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The Central Bank of Nigeria (CBN) has made significant progress in the disbursement of funds to the Small and Medium Enterprises (SMEs) and the healthcare sector, available statistics have shown.

According to analysts at Afrinvest, from 8.2 per cent (N4.1bn) disbursement rate in May, disbursement rose to 98.4 per cent (N49.2bn) of the N50.0 billion targeted at households and SMEs has been disbursed as at July 2020.

Similarly, 93.6 per cent (N93.6bn) of the N100.0 billion healthcare fund has been disbursed from 10.2 per cent in May 2020.

They however noted that there is still poor disbursement of the N1.0 trillion fund established in support of the manufacturing and agriculture sectors although the disbursement rate improved to 15.3 per cent (N152.9bn) from 9.3 per cent (N93.2bn) in May.

“In our opinion, beyond the stimulus measures, providing good guidance on the direction of monetary policy is just as crucial to supporting the economy”, said Afrinvest.

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