Skip to main content Skip to footer 
Access Bank Plc has secured a syndicate Tier II Facility agreement of N442.50 billion ($295 million) with the Dutch Entrepreneurial Development Bank (FMO). This deal marks the third collaboration between FMO and Access Bank and signifies a robust partnership rooted in trust and mutual goals.
Announced on Tuesday, the agreement is the largest syndication in FMO’s history. It was facilitated through a syndicate of global development finance institutions, including the British International Investment, Belgian Investment Company for Developing Countries, BlueOrchard, FinDev Canada, Finnfund of Finland, Norfund of Norway, Oikocredit, and Swedfund of Sweden.
The signing ceremony, held in The Hague, Netherlands, was attended by dignitaries such as Nigerian Ambassador to the Netherlands Oluremi Oliyide and representatives from the Dutch government.
Roosevelt Ogbonna, Managing Director of Access Bank Plc, expressed gratitude to FMO and emphasized the bank’s commitment to global best practices and accountability. He stated, “Today marks a significant milestone in our longstanding partnership with FMO. This monumental syndicate Tier II Facility agreement underscores the deep-rooted trust and synergy among our institutions. This facility not only enhances our capital reserves but also strengthens Africa’s trade capabilities and export potential.”
Ogbonna highlighted that the funds would be directed towards catalyzing growth across various sectors, stimulating business development, creating jobs, and deepening financial inclusion. “Putting these funds to use, we aim to catalyse growth across various sectors, stimulate business development, create jobs, and deepen financial inclusion, aligning with Access Bank’s mission to drive progress and development throughout the continent and beyond,” he added.
Michael Jongeneel, CEO of FMO, expressed his gratitude to Access Bank and the syndication partners for their cooperation. “The syndicated loan provides significant support to SMEs in Nigeria, particularly underserved segments such as women and young entrepreneurs, aligning perfectly with our shared strategy to enhance financial inclusion and empower local entrepreneurs in the agribusiness and SME sectors,” Jongeneel remarked.
