PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

586647

Primary Business Area

Access To Finance

Disclosure Date

Jan 13, 2013

Country

Nigeria

Region

Africa

IFC Approval Date

Jun 7, 2012

Status

Completed

Estimated Total Budget

$878,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Sep 30, 2022

Project Estimated End Date

Dec 31, 2016

Project Description

The project will assist La Fayette Microfinance Bank Nigeria Ltd, a Greenfield microfinance bank, in its start-up phase by providing advisory services. The project will cover approximately 15 percent of the total budget for technical assistance aimed at supporting the creation and expansion of La Fayette Microfinance Bank Nigeria Ltd. The microfinance bank is sponsored by Advans SICAR, a microfinance holding company. The technical service provider is Horus Development Finance. Specifically, the project will assist La Fayette Microfinance Bank, through a performance-based grant, in establishing the internal management systems and training staff to provide roll-out of cash flow-based individual loans to micro, small and medium enterprises and low-cost deposit services to the mass market.

Development Results