Lagos - The federal government plans to set up Development Finance Institution (DFI) that will make access to funds easy and available for the manufacturing sector, reports Leadership.
Dr Ngozi Okonjo-Iweala, minister of finance said the bank when established will provide 10 to 15 years loan facilities at reasonable rates to manufacturers.
She said a lot of multinationals like the World Bank, African Development Bank (AfDB), Brazilian Development Bank and Agence Française de Développement have promised to support and provide funds for the establishment of the financial institution.
She noted that the institution is expected to take off in 2015.
Read more at Leadership.
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