Women-led businesses, agriculture to benefit from $35m FCMB deal

By – Usman Lawal

Photo credited – Proparco

Proparco has deepened its partnership with First City Monument Bank (FCMB) by signing three key agreements to support the Nigerian bank’s financing activities for high-impact small and medium-scale enterprises (SMEs) and women-led businesses. The agreements, signed on January 20, 2025, include a $35 million senior credit line and two guarantees—ARIZ (€3 million) and EURIZ (€6 million)—facilitated by the European Union under its EFSD programme.

These transactions aim to strengthen First City Monument Bank’s position as a leading bank for SMEs while expanding its footprint in impact-driven financing.

The funding will focus on sectors with significant growth potential, particularly agriculture (90%) and women-led businesses (10%), aligning with initiatives such as the International Food and Agriculture Resilience Mission (FARM3) and CHOOSE AFRICA.

This latest collaboration builds on a partnership that…