How to apply for CBN’s N5 billion 100 for 100 PPP loan- The Central Bank of Nigeria (CBN ) launched the 100 for 100 Policy on Production and Productivity (PPP) targeted at private companies who have a project to fund and can apply for as much as N5 billion under the scheme.
What is PPP?
PPP stands for Policy on Production & productivity. It is a support to private sector companies with the aim of reducing certain imports, increasing non-oil exports and to improve the FX-generating capacity of the economy.
What is CBN 100 and 100 N5bn PPP Loan?
Through 100 projects For every 100 Days
This initiative is designed to create the flow of finance and investments to enterprises with potential to kickstart a sustainable economic growth trajectory, accelerate structural transformation, promote diversification, and improve productivity. It is a support to private sector companies with the aim of reducing certain imports, increasing non-oil exports and to improve the FX-generating capacity of the economy.
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Objectives of the Initiative
The broad objective of the initiative is to reverse the nation’s over-reliance on imports, by creating an ecosystem that targets and supports projects with potential to transform and catalyze the productive base of the economy. The specific objectives include:
- catalyse import substitution of targeted commodities
- increase local production and productivity
- increase non-oil exports
- improve foreign exchange earning capacity of the economy
- Long-term loan for acquisition of plant and machinery and
- Working Capital Loan Limit
Loan amount shall be a maximum of N5 billion per obligor. Any amount above N5 billion shall require the special approval of Management.
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Activities Covered by CBN PPP
Focal activities shall be existing businesses and projects (brownfield) with potential to transform and jumpstart the productive base of the economy such as:
- Agriculture and agro-processing
- Extractive Industries
- Petro-Chemicals and Renewable Energy
- Healthcare and Pharmaceuticals
- Logistics Services and Trade-Related Infrastructure
- Any other activities as may be prescribed
How to apply for CBN 100 for 100 PPP Loan
All interested Applicants should visit https://100for100ppp.ng/submit-application to submit their application.
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We hope this article helped you successfully apply for CBN 100 for 100 N5 Billion Loan.
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