Access Bank Seeks IFC Support On Low-Interest Loans

Access Bank Plc has said
that with the support of the International Finance Corporation, it will offer low-interest loans to players in the education sector, starting from the first quarter of next year.
The bank also said it would support the sector with innovative financial solutions.
A statement obtained on Monday quoted the bank’s Executive Director, Business Banking Division, Obeahon Ohiwerei, as saying this during its monthly ‘Power Breakfast Series’ in Lagos.
According to the director, the bank has champions who understand the education industry, and “with the support of the IFC, the bank will offer low-interest loans to the sector, hopefully from the first quarter of next year.”
The bank, he hinted, was collaborating with the IFC to attract long term funds at cheap rates for the sector.
Obeahon said, “The bank designed the innovative financial solution with consideration for the dynamics of school business.”
“The solution is comprehensive and will cater for specific needs of the various schools within the sector – primary, secondary and tertiary institution as well as the constituents of the value-chain which include teachers, suppliers, parents and other critical stakeholders.”
The director highlighted the growth opportunities in the educational sector, informing the operators, particularly private school proprietors and other promoters that the monthly programme was an interactive forum for SMEs and entrepreneurs.
Obeahon said, “The programme is the bank’s way of integrating our SME customers with innovative financial solutions. Today, we are engaging operators in the Education Sector to proffer solutions that will address most of the challenges facing the sector.”