Nigeria's development bank to receive $1.3bn from World Bank

(AGI) - Lagos 10 oct - Nigerian Government has reached an agreement with the World Bank Group and other development partners for the release of $1.3bn for the take-off of the Development Bank of Nigeria, Minister of Finance, Mrs. Kemi Adeosun, disclosed Sunday in Washington DC, United States of America. She explained that DBN would serve as a means of intervention for the Small and Medium-sized Enterprises in the country to get funds to run their operations and expand in order to achieve inclusive growth for the country, noting that "An agreement was reached on the final steps for the take-off of the Development Bank of Nigeria, which had been stopped due to some issues; we have resolved all those issues, the recruitment process has now been finalised, with management team put in place; and this will release $1.3bn, which is aimed at supporting our SMEs and the SMEs are part of the engine that will spur the growth of our economy." (AGI) .