The Edo State Government and the Bank of Industry (BOI) unveiled a Micro Small and Medium Enterprise (MSME) development fund worth N2 billion to support entrepreneurs in the state. The fund was launched during a citizens’ engagement session organized by the Edo State Skills Development Agency, also known as EdoJobs, at the government house in Benin City.
The Edo State Government provided N1 billion, while BOI provided the other N1 billion, making it N2 billion, with an attractive interest rate. The MSME fund is aimed at providing business loans to enterprises located within the state. A second fund – the N165m Edo Production Hub Fund, financed by the Edo State Government and managed by the BOI is aimed at businesses located within the state-owned production hub.